The Reserve Bank of India has signed separate Memoranda of Understanding (MoUs) on Supervisory Cooperation and Exchange of Supervisory Information with Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA), United Kingdom.
- Earlier in July 2012, RBI had signed an agreement for supervisory co-operation with the Financial Services Authority (FSA), United Kingdom.
- Due to some reforms implemented in UK financial services regulation, the functions exercised by FSA were transferred to PRA and FCA and due to which RBI had to sign these separate MOUs for supervisory co-operation between the Reserve Bank and the PRA and FCA.
With this agreement, RBI has entered into MOUs for Supervisory Co-operation with supervisors of 33 countries to promote greater co-operation and share supervisory information.
No comments:
Post a Comment