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09/04/22 13:15 PM IST

Cabinet approves bilateral MoU between SEBI and FRC, Mongolia

In News 
  • The Union Cabinet chaired by the Prime Minister, Shri Narendra Modi has approved the proposal for signing a bilateral Memorandum of Understanding (MoU) between Securities and Exchange Board of India (SEBI) and Financial Regulatory Commission, Mongolia (FRC).
Benefits of MoU 
  • The proposed bilateral MoU would, in addition to contributing towards strengthening the information sharing framework leading to effective enforcement of securities laws, also help in establishing a technical assistance programme.
  • The technical assistance programme would benefit the Authorities by way of consultations on matters relating to capital markets, capacity building activities and training programmes for the staff.
About SEBI 
  • The Securities and Exchange Board of India (SEBI) was established under the Securities and Exchange Board of India Act, 1992 to regulate the securities markets in India.
  • The objectives of the SEBI are to protect the interest of the investors and to regulate and promote development of securities markets in India. 
About FRC 
  • Established in 2006, the Financial Regulatory Commission (FRC) is a parliamentary authority mandated to supervise and regulate the non-bank sector; including the insurance and securities markets, and participants of the microfinance sector.
  • The FRC is responsible for providing stable and sound financial markets.
  • The Commission exercises power over non-bank financial institutions, insurance companies and intermediaries, securities firms, and savings and credit cooperatives. 
Source- PIB 

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