Winnipeg – The Manitoba Securities Commission (MSC) and the Securities and Exchange Board of India (SEBI) have signed a Memorandum of Understanding (MoU), which will officially permit Manitobans to maintain investment accounts in the nation of 1.3 billion.
David Cheop, Chair and CEO, MSC, and Ms. Madhabi Puri Buch, Chair, SEBI have signed the MoU, which took effect Apr. 20, 2022.The agreement will make Manitoba investors eligible for registration as Foreign Portfolio Investors (FPIs) in India, and improve regulatory oversight and securities enforcement between the two organizations. SEBI is the regulatory body for securities and commodities in India.
SEBI is responsible for what has recently become the sixth largest stock market in the world with capitalization of over $4.2 trillion CAD, overtaking France in 2021. There are currently more than twenty Manitoba-based FPIs that invest in India.
A release from SEBI states the MoU will, “Facilitate mutual assistance, contribute towards efficient supervisory functions… and enable effective enforcement of the laws and regulations governing securities markets.”
The Manitoba Securities Commission is a division of the Manitoba Financial Services Agency, a Special Operating Agency of the Government of Manitoba that protects investors and promotes fair and efficient capital markets throughout the province.
Founded in 1988, The Securities and Exchange Board of India, is the regulatory body for securities and the commodity market in India, under the Ministry of Finance. SEBI is based in Mumbai, Maharashtra.
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Media Inquiries:
Jason Booth, Communications Coordinator, MFSA | 204.945.1660 | jason.booth@gov.mb.ca
