Securities and Exchange Board of India (SEBI) signed a ‘Capital Market Collaborative Agreement’ (Agreement) with the Securities Commission of Malaysia aiming to deepen and broaden capital market development in the two countries.

The agreement also aimed to facilitate greater cross-border activities between the capital markets and to attain closer regulatory co-operation in a mutually beneficial manner, a SEBI release here said.

The Agreement was signed by SEBI Chairman C B Bhave and SC Chairperson Ms Zarinah Anwar in the presence of Prime Minister Dr Manmohan Singh and Malaysian Prime Minister Dato Mohd Najib bin Tun Abdul Razak in New Delhi, yesterday.

SEBI and Securities Commission, Malaysia had entered into a Memorandum of Understanding (MoU) on May 14, 2001 in relation to assistance and mutual cooperation. The MoU focuses on exchange of information and mutual assistance for enforcement of securities laws and regulation. The present Agreement focuses on exploring further avenues for capital markets related strategic alliances, cross-border transactions, sharing technical expertise and a better understanding of each other’s regulatory framework between the two jurisdictions.

So far, SEBI had signed bilateral MoUs with 17 Jurisdictions and a Letter of Intent for mutual cooperation.

UNI