Mumbai, Oct 14: Securities and Exchange Board of India has signed a memorandum of understanding with the Monetary Authority of Singapore (MAS) to strengthen communication channels and establish a framework for mutual cooperation. The MoU was signed by Sebi chairman G N Bajpai and MAS managing director Koh Yong Guan in Singapore yesterday, a Sebi press release said here.

"The MoU marks the beginning of greater collaboration between India and Singapore to effectively regulate and develop securities and futures markets, in view of greater cross-border trade and cross-market linkages brought about by the globalisation of financial markets," it said.

The agreement is a significant step in furthering the understanding and co-operation between the Indian and Singapore governments, it added.
As an active member of IOSCO, Sebi said it is committed to ensure fair and orderly development of the securities markets and co-operation with other global regulators.

Sebi had earlier signed MoUs with SEC, USA and SC, Malaysia and FSC, Mauritius & SE, Sri Lanka.
Bureau Report