SEBI And Bank Of England Sign Mou To Strengthen Regulatory Oversight

(MENAFN- AsiaNet News)

Regulatory Cooperation Agreement

The Securities and Exchange Board of India (SEBI) and the Bank of England (BoE) have signed a memorandum of understanding (MoU) to strengthen regulatory cooperation and information exchange concerning SEBI-recognised clearing corporations, according to a press release issued on Wednesday. The agreement establishes a framework for cooperation between the two regulators regarding central counterparties, in accordance with their respective laws and regulations.

Framework for Clearing Oversight

Enhancing Financial Stability

Under the MoU, the Bank of England can place reliance on SEBI's regulatory and supervisory activities while safeguarding the financial stability of the United Kingdom. The agreement is aimed at facilitating international clearing activities through cross-border regulatory cooperation and information sharing.

Clearing Corporation Functionality

Clearing corporations play a role in financial market transactions by helping ensure that trades are settled and obligations between market participants are met. Cooperation between regulators in different jurisdictions is relevant to the oversight of clearing activities that involve cross-border financial markets.

Coordinated Regulatory Efforts

The MoU outlines a framework for SEBI and the Bank of England to work together on matters relating to clearing corporations recognised by the Indian regulator. The agreement also reflects the importance of regulatory coordination in supporting international clearing arrangements while maintaining oversight under the respective regulatory frameworks of both jurisdictions.

(Except for the headline, this story has not been edited by Asianetnews Editorial staff and is published from a syndicated feed.)

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