sebi
The Securities and Exchange Board of India (SEBI) has formally signed the Enhanced Multilateral Memorandum of Understanding (EMMoU) established by the International Organization of Securities Commissions (IOSCO). SEBI's Chairman, Shri Ajay Tyagi, represented the board during this signing, marking SEBI's entry into an exclusive group of securities regulators that are EMMoU signatories.
Since the launch of IOSCO's Multilateral Memorandum of Understanding (MMoU) in 2002, there has been a marked increase in the globalization and interconnectedness of financial markets. Technological advancements have also transformed the operations of securities markets, leading to new enforcement challenges. In response, IOSCO introduced the EMMoU to broaden the enforcement capabilities available to signatories, enabling them to protect market integrity and stability, as well as to shield investors from misconduct and fraud. For more information on the EMMoU, please visit the IOSCO website.
By leveraging their advanced levels of cooperation outlined in the EMMoU, signatory countries are expected to enhance the effectiveness of their investigations and the enforcement of national laws and regulations.
SEBI has been a signatory to the MMoU since 2003, demonstrating a long-standing commitment to international cooperation in securities regulation.
Additionally, SEBI retains the discretion to mediate requests from foreign regulators, such as the Securities and Exchange Commission's (SEC) virtual testimony summons, in accordance with Indian law.