Wanting to make BRICS an attractive investment destination, Sebi chairman UK Sinha on Thursday called for setting up an information-sharing mechanism between the regulators of the five major emerging national economies.
“All securities market regulators of BRICS can set up some mechanism to work together and learn from each other’s regulatory development. I think lot of regulatory progress can be made through this which will be mutually beneficial,” Sinha said at a BRICS seminar on investment flows here. Noting that it was important to attract foreign fund flows into the BRICS nations, Sinha said the Sebi would be happy to share its experience with respect to the latest guidelines for foreign portfolio investors (FPIs). According to Sinha, Sebi's latest norms for FPIs have streamlined the process to invest in India. “We will be happy to share our knowledge, our experience with our partner countries (of BRICS) on how FPI regulations have fared in this country,” he said. Sinha also said the Real Estate Investment Trusts (REITs), Infrastructure Investment Trusts (InvITs) and corporate governance were other areas for sharing of knowledge and experience among BRICS countries.