Cabinet Approves Memorandum of Understanding Between SEBI and Manitoba Securities Commission, Canada

MOU would make Manitoba Securities Commission investors eligible for registration as REITs with SEBI

Representative image: ANI

New Delhi: Union Cabinet, chaired by Prime Minister Narendra Modi, on Wednesday approved the signing of a bilateral Memorandum of Understanding between the Securities and Exchange Board of India and the Manitoba Securities Commission, Canada.

The agreement aims to establish a formal basis for cross-border cooperation in the field of securities regulation, would facilitate mutual assistance, contribute to the efficient performance of supervisory functions, help to transmit technical knowledge in the field and would allow effective enforcement of laws and regulations governing the securities markets, according to an official statement issued after the Council of Ministers.

The MOU would also make Manitoba investors eligible for REIT registration with SEBI.

About 20 Manitoba-based Foreign Portfolio Investors (REITs) with total assets under custody of Rs 2,665 crore are expected to benefit from the deal.

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Aurora J. William