13 October 2003...The Monetary Authority of Singapore (MAS) announced today that it has signed a regulatory Memorandum of Understanding (MOU) with the Securities and Exchange Board of India (SEBI).

The MOU paves the way for enhanced cooperation and communication between the two regulators.  Under the MOU, MAS and SEBI agree to provide assistance and exchange information necessary for the investigation of offences involving securities and futures.  The MOU will facilitate the effective performance of their supervisory functions and enforcement of laws and regulations of both countries. 

The MOU was signed by Mr Koh Yong Guan, Managing Director, MAS, and Mr G N Bajpai, Chairman, SEBI, in Singapore.  Mr Koh noted, "We are pleased to sign this MOU with SEBI. In the spirit of the Comprehensive Economic Cooperation Agreement which the Governments of India and Singapore are negotiating, this MOU affirms the deepening economic and trade links between both countries.  With the globalisation of capital markets, closer cooperation between securities regulators is important for maintaining the integrity of markets and safeguarding investors' interest in Singapore and India."

MAS has already signed 12 MOUs with other securities and futures regulators, the most recent of which was with the Financial Services Agency of Japan. 

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