REGULATIONS


MDT/PTI 10 October 2012
SEBI said Jain dealt in 15,080 shares of the company on behalf of Polaris Holding on the basis of 'unpublished price sensitive information' held by him and made unfair gains of Rs27.26 lakh   Mumbai: Market regulator Securities and Exchange Board of India (SEBI) has barred Polaris...

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MDT/PTI 10 October 2012
ICICI Bank and ING Vyasa Bank are fined for their failure to obtain adequate documents for opening accounts, failure to carry out sufficient customer identification procedures and failure to examine control structure of entities   Mumbai: The Reserve Bank of India (RBI) has slapped a...

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MDT/PTI 09 October 2012
Among 42 charges against Metlife, one was related with floating contests for the referral partners and expenses incurred and there were five such instances   New Delhi: Insurance Regulatory And Development Authority (IRDA) has imposed a penalty of Rs76 lakh on Met Life India Insurance...

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MDT/PTI 09 October 2012
The central bank is open to looking at increasing the limit on international e-commerce transactions from $3,000 at present says RBI executive director G Padmanabhan Mumbai: The Reserve Bank of India (RBI) is open to looking at increasing the limit on international e-commerce...

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MDT/PTI 09 October 2012
The central bank is trying to redefine sick units and would soon come up with the new definition, says Dr Chakrabarty Mumbai: The Reserve Bank of India (RBI) will come out with a new definition of sick units shortly, reports PTI quoting RBI Deputy Governor KC Chakrabarty.   "We...

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Moneylife Digital Team 08 October 2012
SAT upheld charges of insider trading against VK Kaul, a former independent director of Ranbaxy, and his wife Bala Kaul The Securities Appellate Tribunal (SAT) on Monday upheld charges levied by the market regulator Securities and Exchange Board of India (SEBI) against VK Kaul, an...

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Narendra Kondajji 08 October 2012
SEBI has just come out with draft regulations for investment advisors. Unfortunately, the proposed regulations will be of little consequence. It will mean little to investors and mis-selling may continue as before and with appropriate disclosures! An analysis of the proposed rules…

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MDT/PTI 08 October 2012
Companies including Birla Sun Life Insurance, ICICI Prudential, HDFC Life Insurance, MetLife Insurance and Reliance Life among others have been issued summons by the Finance Ministry as part of its probe into alleged service tax evasion of over Rs300 crore New Delhi: The Finance Ministry...

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MDT/PTI 08 October 2012
IRDA directed SBI Life to identify the member or beneficiaries for each master policy and distribute the wrongful administrative charge by way of refund   New Delhi: The Insurance Regulatory and Development Authority (IRDA) has directed SBI Life Insurance Company to distribute the...

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MDT/PTI 08 October 2012
Reliance Life has filed two health plans, one a reimbursement health plan and another one a simple fixed benefit plan and is awaiting approval from the insurance regulator   New Delhi: Private insurer Reliance Life has sought approval of the Insurance Regulatory and Development...

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MDT/PTI 08 October 2012
SEBI has asked stock exchanges to inform investors well in advance about any potential penal action against companies not complying with minimum public shareholding Mumbai: Market regulator Securities and Exchange Board of India (SEBI) has asked stock exchanges to inform investors well...

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MDT/PTI 08 October 2012
SEBI decided to initiate steps that would enable an investor to view the details of his holdings and transactions across all asset classes through a single consolidated statement under a demat account Mumbai: Market regulator Securities and Exchange Board of India (SEBI) has proposed to...

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MDT/PTI 08 October 2012
SEBI decided that an additional exposure to financial services sector (over and above the existing 30%) not exceeding 10% of the net assets of the scheme in debt oriented mutual fund schemes will be allowed by way of increase in exposure to HFCs only Mumbai: Providing respite for housing...

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MDT/PTI 05 October 2012
SEBI would also look into whether adequate safeguard mechanism was in place to avoid a 'flash crash' like situation, as the so-called freak trades were executed in a number of well-known blue-chip stocks, including some large banking shares   Mumbai: Market regulator Securities and...

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MDT/PTI 05 October 2012
SEBI had slapped a fine of Rs14 crore on Dushyant N Dalal and Puloma Dushyant Dalal, the two chartered accountants for alleged unlawful gains made during the infamous IPO scam of 2003-05 Mumbai: The Securities Appellate Tribunal (SAT) has dismissed an appeal by two financiers--Dushyant N...

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MDT/PTI 04 October 2012
Insurance companies, which are declining third party insurance, would face severe penalties that would be more onerous than the business they forgone, warns the insurance regulator   New Delhi: The Insurance regulatory and Development Authority (IRDA), has said "severe" penal action...

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MDT/PTI 03 October 2012
According to IRDA chairman, the insurance company would have to assess the health risks of a policyholder at the time of selling the policy and not at the time of renewal   New Delhi: Insurance Regulatory and Development Authority (IRDA) will soon come out with guidelines to prevent...

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MDT/PTI 03 October 2012
Both BSE and NSE have accordingly directed all market entities to initiate submission of suspicious transaction reports or STUs directly on the new FIU gateway and ensure compliance to the SEBI directive New Delhi: Market regulator Securities and Exchange Board of India (SEBI) has asked...

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Sucheta Dalal Sucheta Dalal 03 October 2012
While we laud SEBI for the dogged pursuit of the Saharas, which issued over Rs17,500 crore worth of OFCDs, the regulator is strangely silent about Osian Art Fund. As we go to print, the Securities & Exchanges Board of India (SEBI) is moving the Supreme Court with an application to say...

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MDT/PTI 02 October 2012
IRDA, in consultation with insurers, will identify or design certain standard products which can be used by the industry under Use and File system   New Delhi: Insurance Regulatory and Development Authority (IRDA) will come out with a new policy to accord automatic clearance to the...

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