AMF and Securities and Exchange Board of India sign cooperation pact
Meleveetil Damodaran, Chairman of the Securities and Exchange Board of India (SEBI), and Michel Prada, Chairman of the Autorité des marchés financiers (AMF), exchanged letters on 5 February 2008 confirming their plan for closer cooperation between the two authorities.
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The agreement aims to promote mutual regulatory understanding within the framework of the Multilateral Memorandum of Understanding of the International Organization of Securities Commissions on the exchange of information.
The agreement provides, among other things, for an annual cooperation programme to strengthen bilateral relations between SEBI and the AMF. The programme will include:
- training seminars in France and India on various aspects of financial regulation in the fields of capital markets and asset management;
- visits by SEBI and AMF delegations, public conferences in partnership with industry groups, and internships.
Another aim of promoting mutual regulatory knowledge and regular relations between the AMF and SEBI is to facilitate links between the financial industries of the two countries.