Sebi signs enhanced multilateral MoU of International Organization of Securities Commissions

The pact signed on Wednesday is expected to increase the effectiveness of the signatories’ investigations and the enforcement of their jurisdictions’ laws and regulations.

Markets regulator Sebi has signed the enhanced multilateral memorandum of understanding (EMMoU) of the International Organization of Securities Commissions. Sebi is already a signatory to MMoU since 2003, it said in a release.

The EMMoU was introduced by IOSCO to expand the range of enforcement powers that signatories may use to safeguard the integrity and stability of markets, protect investors and deter misconduct and fraud, Sebi said.

The pact signed on Wednesday is expected to increase the effectiveness of the signatories’ investigations and the enforcement of their jurisdictions’ laws and regulations.

“Since the inception of IOSCO’s Multilateral MoU (MMoU) in 2002, there has been a significant increase in globalisation and interconnectedness of financial markets, as well as advancements in technology that have changed the way the securities markets operate,” the release said.

It has also given rise to new enforcement challenges, it added.

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