SEBI-Manitoba Securities pact formalises cross-border cooperation and impart technical domain knowledge
Around 20 Manitoba-domiciled Foreign Portfolio Investors (FPIs) with Rs.2,665 crore Assets Under Custody will be able to invest in the Indian markets under a Bilateral Memorandum of Understanding between Securities and Exchange Board of India (SEBI) and Manitoba Securities Commission.
The MoU, approved by the Cabinet, formalises cross-border co-operation in the area of securities regulations, facilitates mutual assistance, contributes towards efficient performance of supervisory functions, aid in imparting technical domain knowledge and enable effective enforcement of the laws and regulations governing securities markets.
The MoU would also make investors from Manitoba eligible for registration as an FPI with SEBI, said the Cabinet on 13 April 2022.
One of the pre-conditions for Manitoba located entities desirous of registration as FPI with SEBI is that the securities market regulator of a foreign country and or province should be a signatory to the International Organization of Securities Commissions’ Multilateral memorandum of Understanding (IOSCO MMoU). fiinews.com
