Question: The European Union (EU) is a political and economic union of … member states.
(a) 25
(b) 26
(c) 27
(d) 28
Ans: (d)
- On June 7, 2017, the Union Cabinet chaired by the Prime Minister Narendra Modi gave its approval to the Securities and Exchange Board of India (SEBI) for entering into a Memorandum of Understanding (MoU) with European Securities and Markets Authority (ESMA) in relation to Mutual Co-operation.
- The MoU is likely to establish cooperation arrangements as a precondition for ESMA to recognize Central Counter Parties (CCPs) established in India.
- Central Counter Parties are supervised by the SEBI to provide clearing services to clearing members or trading venues established in the European Union.
- It also provides ESMA with adequate tools to monitor the on-going compliance by the Covered CCPs with the Recognition Conditions.
Reference:
http://pib.nic.in/newsite/mbErel.aspx?relid=164466