INDIA BUSINESS WORLD - FEBRUARY 1^st - FEBRUARY 15^th - 2008

SEBI JOINS HANDS WITH AMF FRANCE

The Securities and Exchange Board of India (Sebi) and Autorité des Marchés Financiers (AMF) have joined hands to promote fair, efficient and transparent capital markets in India and France. The collaboration between the two authorities would include promoting mutual regulatory understanding and exchange of information as well as an annual co-operation program. It also aims at addressing the increasing cross-border business and the globalisation of financial markets, said a Sebi release. According to Sebi chairman M Damodaran, the increased cooperation reflects the enhanced significance of the presence of emerging markets in an increasingly globalised world. “This would enable greater focus on investor protection in a disclosure-based global regime,” said Mr Damodaran adding that this would also lead to greater co-operation of the industry in the two jurisdictions to promote capital formation. The mutual regulatory understanding and exchange of information would include organisation of seminars in India and France, study visits, public conferences, visits of delegations, internships and improved co-operation in cross-border securities enforcement matters.