Markets regulator SEBI and the Bank of England (BoE) have signed a memorandum of understanding (MoU) to strengthen cooperation and exchange information concerning clearing corporations recognised by the Indian regulator. According to the agreement, the two authorities will cooperate in regard to central counterparties, in accordance with their respective laws and regulations.
The Securities and Exchange Board of India (SEBI) said the MoU will enable the Bank of England to rely on SEBI’s regulatory and supervisory activities while safeguarding the UK’s financial stability. The agreement also underscores the importance of cross-border regulatory cooperation in facilitating international clearing activities.
