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SEBI signs MoUs with Thai, Nigerian regulators

Special Correspondent

Will facilitate mutual assistance, strengthening of cross border cooperation

— PHOTO: PAUL NORONHA

FOR INVESTOR PROTECTION: M. Damodaran (centre), Chairman, SEBI, with Musa Al-Faki (right), Director General, SEC, Nigeria, and Thirachai Phuvanatnaranubala, Secretary-General, SEC, Thailand, after the signing of memoranda of understanding in Mumbai on Tuesday.

MUMBAI: The Securities and Exchange Board of India (SEBI) on Tuesday signed Memoranda of Understanding (MoUs) with the Securities and Exchange Commission of Thailand and the Securities and Exchange Commission of Nigeria.

"Effective instruments"

These MoUs are "extremely effective instruments," said M. Damodaran, Chairman, SEBI, while talking to mediapersons immediately after signing the MoUs, adding, "Thailand heads the Asia Pacific Region and Nigeria heads Africa."

The MoUs would facilitate mutual assistance and strengthening of cross border cooperation and contribute towards efficient performance of the supervisory functions and effective enforcement of the laws and regulations governing the markets.

Sharing of information

With the increasing internationalisation and interdependence of securities markets, these MoUs would help in sharing of information with regulatory authorities of these two jurisdictions, SEBI stated. The MoUs were signed on the occasion of the 32nd IOSCO annual conference being hosted by SEBI.

The MoU with SEC, Thailand, was signed by Mr. Damodaran and Thirachai Phuvanatnaranubala, Secretary General, SEC, Thailand. The MoU with SEC, Nigeria, was signed by Mr. Damodaran and Musa Al-Faki, Director General, SEC, Nigeria.

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