Capital market watchdog Securities and Exchange Board of India (Sebi) has put in place a robust system for information sharing and coordination with foreign regulators to nab manipulators and fraudsters operating across boundaries in a globalised world.
“We are getting very good cooperation from foreign regulators, while Sebi is also very prompt in replying to information requests from its overseas peers,” Sebi Chairman U K Sinha said.
With markets getting more global every passing day, manipulators and those indulging in various kinds of investor frauds have also begun operating across the countries in a big way and it may be difficult to crack whip on them in the absence of coordinated efforts and proper information sharing by regulators from the concerned countries.
“Sebi is an important member of IOSCO (International Organisation of Securities Commissions) and we are in their executive committee,” Mr Sinha told PTI, while listing out a host of mutual benefits available to regulators from across the world from this platform.
IOSCO is a global body of securities regulators from across the world and sets international standards for various regulations and reforms in capital markets space.
“We are getting very good response from all the foreign regulators. Our preparedness on IOSCO principles is considered very highly. We are getting very good response,” the Sebi chief said.
