Markets regulator Sebi on Thursday entered into a pact with its counterpart in Iran to promote technical assistance and facilitate cross-border co-operation in the area of securities regulations.
It will facilitate mutual assistance, contribute towards efficient performance of the supervisory functions, and enable effective enforcement of laws and regulations governing the securities markets.
“The Securities and Exchange Board of India (Sebi) and Securities & Exchange Organization (SEO) of Iran have entered into a bilateral Memorandum of Understanding (MoU) for mutual cooperation and technical assistance,” Sebi said in a statement.
The MoU was signed by Sebi chief Ajay Tyagi and SEO Iran chairman Shapour Mohammadi here.
Sebi has signed nearly two dozen bilateral MoUs with the regulators of various jurisdictions. The markets regulator is also a signatory to the multilateral MoU of International Organization of Securities Commissions (IOSCO).
In order to encourage the exchange of information and assistance, Sebi has been signing pacts with the jurisdictions who are yet to become a signatory to the multilateral MoU of IOSCO.