Sebi and FIU-India Collaborate to Enhance Fraud Prevention in Securities Market
Market regulator Sebi signs MoU with FIU-India for data sharing
Business Standard
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The Securities and Exchange Board of India (Sebi) has signed a memorandum of understanding (MoU) with the Financial Intelligence Unit (FIU-India) to share data and information aimed at combating fraud in the securities market. This initiative supports the implementation of the Prevention of Money Laundering Act, 2002.
- 01Sebi has signed an MoU with FIU-India for data sharing.
- 02The MoU aims to enhance fraud prevention in the securities market.
- 03This collaboration supports the Prevention of Money Laundering Act, 2002.
- 04Sebi also signed an MoU with the Department of Telecom for information sharing.
- 05The PropShare Celestia Real Estate Investment Trust IPO was fully subscribed.
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On Thursday, the Securities and Exchange Board of India (Sebi) announced a memorandum of understanding (MoU) with the Financial Intelligence Unit (FIU-India), part of the Ministry of Finance, to facilitate data and information sharing to combat fraud in the securities market. This initiative aligns with the requirements of the Prevention of Money Laundering Act, 2002. Additionally, Sebi had previously signed an MoU with the Department of Telecom (DoT) to enhance information sharing capabilities. In related news, the initial public offering (IPO) of PropShare Celestia Real Estate Investment Trust (Reit) was fully subscribed, achieving a 1.33x subscription rate on its final bidding day, with institutional investors subscribing by 17% and retail investors by 4.8 times. The IPO raised ₹245 crore (approximately $30 million USD) and is intended for property acquisition in Ahmedabad.
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This collaboration between Sebi and FIU-India is expected to strengthen the regulatory framework against financial fraud, potentially leading to increased investor confidence in the securities market.
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