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Cabinet approves the proposal of Securities Exchange Board of India (SEBI) to sign Bilateral Memorandum of Understanding between India and Luxembourg The Union Cabinet chaired by the Prime Minister, Shri Narendra Modi has given its approval for the proposal of Securities Exchange Board of India (SEBI) to sign a bilateral Memorandum of Understanding (MOU) between Securities and Exchange Board of India and Financial and Commission de Surveillance du Secteur Financier (CSSF), Luxembourg. Ob
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FAQ :
The MoU aims to strengthen cross-border cooperation in securities regulations, facilitate mutual assistance, improve supervisory functions, and aid in the enforcement of laws governing securities markets in both India and Luxembourg.
The signatories are the Securities and Exchange Board of India (SEBI) and Luxembourg's Commission de Surveillance du Secteur Financier (CSSF).
The technical assistance programme will benefit both authorities through consultations on capital markets, capacity building activities, and training programmes for staff.
While both are MoUs, the bilateral agreement between India and Luxembourg specifically includes provisions for technical assistance, which is not covered under the IOSCO MMoU.
SEBI was established to regulate India's securities markets, protect investors, and promote market development. Its functions include regulating intermediaries, prohibiting unfair trade practices, and sharing information with authorities.
The CSSF is the competent authority for the prudential supervision of Luxembourg's financial centre and is responsible for the regulation and supervision of its securities market.
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