Union Cabinet approves signing of MoU between SEBI, ESMA

07 June, New Delhi

The Union Cabinet, chaired by Prime Minister Narendra Modi, Wednesday gave its approval to the Securities and Exchange Board of India (SEBI) for entering into a Memorandum of Understanding (MoU) with European Securities and Markets Authority (ESMA) in relation to mutual co-operation.

The MoU is likely to establish cooperation arrangements as a precondition for ESMA to recognise Central Counter Parties (CCPs) established in India and supervised by the Securities and Exchange Board of India to provide clearing services to clearing members or trading venues established in the European Union and to provide ESMA with adequate tools to monitor the ongoing compliance by the Covered CCPs with the Recognition Conditions, an official statement said here.