India, U.S. To Exchange Information On Corporate Frauds: Sachin Pilot


New York: With an aim to avert possible corporate frauds and safeguard the interest of investors, India is looking for greater exchange of information and regulatory cooperation with the U.S.

Besides the U.S. government, India will also engage with the companies, universities and other institutions for enhanced cooperation in various areas, Corporate Affairs Minister Sachin Pilot said.

An increased interaction at different levels would not only boost the bilateral ties, but also help in building stronger checks against corporate frauds in the two countries, the minister told PTI in an interview here during his recent visit to the U.S.

"We need to ensure there is adequate transparency in the dealings of companies' disclosures, keeping in mind the number of corporate frauds that have been unearthed in the recent past both in the U.S. and in India," Pilot said.

The Minister said that India and the U.S. would share data to prevent such frauds from happening in the future.

"We want to work not just with the government, but also with the private sector, universities and institutions across the U.S., enhance training programs, exchange regulatory officers, and promote faculty research and staff training both in judicial and non-judicial areas," he said.

During his visit, Pilot had meetings with the U.S. Federal Trade Commission Chairman FTC Ramirez and Assistant Secretary of State Robert Blake, among others.

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Source: PTI