The EU members include Czech Republic, Denmark, Greece, Hungary, Italy, Latvia, Lithuania, Luxembourg, Malta, Romania, Sweden, the Netherlands and the UK and the members of European Economic Area comprises Iceland, Liechtenstein, Norway.
The MoUs on cooperation and exchange of information on the supervision of alternative investment funds will impart significant role by securing the interests of investors through increasing cooperation on supervision of funds that carry out cross border transactions.
Following the discussions with CMB, the European Securities and Markets Authority (ESMA) carried out the negotiations on behalf of the other EU countries and activities for signing the MoUs had been going on since 2012.
Weighing smooth facilitation of information among the participatory members, MoUs had been signed with the competent authorities of the 16 jurisdictions in the current scenario.
The CMB said that global cooperation and supervision of cross border transactions are vital to ensure the smooth functioning of financial markets.
These signing of MoUs with other EU members will strengthen cross border supervision and enforcement activities efficiently.
