New Delhi: Market watchdog SEBI will focus on co-operating with other domestic and global regulators for strengthening and promoting a conducive environment for the securities market in the current fiscal.
Besides, SEBI's priority will be achieving its mandated statutory objectives through various policy initiatives targeted towards investor protection, market development and effective regulation.
The Securities and Exchange Board of India (SEBI) cooperates and facilitates exchange of information with its counterparts in other jurisdictions for the purpose of regulatory enforcement. It is a signatory to multilateral MoU of International Organisation of Securities Commissions (IOSCO).
The pact has proved to be an effective tool in cross-border cooperation in combating financial fraud and misconduct.
During 2015-16, the regulator received 89 requests for information from overseas regulators seeking SEBI's assistance. Similarly, 44 such requests were made by the capital market watchdog to its regulatory counterparts in other jurisdictions.
"During 2016-17... it will be SEBI's endeavour to cooperate with other regulators, not only in India, but across the globe for strengthening and promoting a conducive environment for the securities market to flourish within the caveats of regulation," the regulator said in its latest annual report.
The regulator hosted a number of international organisations, including regulatory bodies, business and ministerial delegations, last fiscal. These meetings foster deeper levels of co-operation, facilitate a better understanding of the Indian securities market and further collaboration with visiting institutions.
