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The Securities and Exchange Board of India (Sebi) has entered into a memorandum of understanding with the Financial Intelligence Unit-India (FIU-India) to enhance cooperation in tackling money laundering and fraud in the securities market. The agreement facilitates regular exchange of data and intelligence in line with Egmont principles and aims to support enforcement of the Prevention of Money Laundering Act, 2002. The MoU, which came into effect recently, is expected to strengthen market surveillance and improve coordination between the two agencies. Senior officials from both organisations formalised the agreement, signalling a move towards tighter regulatory oversight and information sharing in India's financial markets.
The Securities and Exchange Board of India (Sebi) has signed a memorandum of understanding with the Financial Intelligence Unit-India (FIU-India) to enhance cooperation in addressing money laundering and fraudulent activities in the securities market through structured data sharing and coordinated oversight. Advertisement
The agreement, formalised in the past week, is aimed at strengthening collaboration between the capital markets regulator and the financial intelligence agency by facilitating the exchange of information and intelligence. The move is aligned with ongoing efforts to improve enforcement under the Prevention of Money Laundering Act, 2002, and related regulatory frameworks.
According to Sebi, the MoU incorporates the principles of information exchange outlined by the Egmont Group, which provides a global framework for cooperation among financial intelligence units. The adoption of these principles is expected to enable more efficient and timely sharing of relevant financial data between the two organisations.
Under the arrangement, Sebi and FIU-India will regularly exchange information to enhance market surveillance mechanisms and detect suspicious transactions or patterns indicative of money laundering or fraudulent practices. The collaboration is intended to support early identification of risks and improve the overall integrity of the securities market.
The agreement was signed by Amit Mohan Govil, Director of FIU-India, and Sandip Pradhan, Whole-Time Member at Sebi, in the presence of senior officials from both institutions. The MoU came into effect shortly after its signing, marking the commencement of formal cooperation under the defined framework.
The partnership reflects an increasing emphasis on inter-agency coordination in financial regulation, particularly in areas involving complex transactions and cross-border financial flows. By strengthening data-sharing mechanisms, regulators aim to close information gaps and ensure more effective monitoring of market participants.
The initiative also aligns with broader regulatory priorities to enhance transparency, improve compliance, and mitigate systemic risks within India's financial ecosystem. As financial markets become more interconnected and technologically driven, the need for coordinated oversight between regulatory and intelligence bodies has gained prominence.
Through this agreement, Sebi and FIU-India are expected to develop a more integrated approach to tackling financial misconduct, with a focus on improving investigative capabilities and ensuring adherence to anti-money laundering regulations.
Source - PTI
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