New Delhi, Apr 21 (PTI) Indian capital markets regulator Sebi and Canada's Manitoba Securities Commission (MSC) have entered into a pact for mutual cooperation, exchange of information and technical assistance.

The move comes after the Union Cabinet last week approved the signing of a memorandum of understanding (MoU) between the Securities and Exchange Board of India (Sebi) and Manitoba Securities Commission.

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The MoU, which took effect on Wednesday, will strengthen cross border cooperation in the area of securities regulation, Sebi said in a statement.

This will facilitate mutual assistance, contribute towards the efficient performance of the supervisory functions, aid in imparting technical domain knowledge, and enable effective enforcement of the laws and regulations governing the securities markets.

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The signing of this MoU will also make investors based in the province of Manitoba eligible to obtain registration as Foreign Portfolio Investors (FPIs) with Sebi.

The agreement was signed by Sebi chairperson Madhabi Puri Buch and David Cheop, Chief Executive Officer and Chairperson at MSC.

Sebi has signed bilateral MoUs with securities regulators of various jurisdictions. It is also a signatory to the multilateral MoU (MMoU) and enhanced MMoU (EMMoU) of the International Organization of Securities Commissions (IOSCO).

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)