India Introduces Bill to Settle Disputes Between Regulators

Date: 27 July 2010

Source: Economic Times

Indian Finance Minister Pranab Mukherjee today introduced a bill in the Lok Sabha (lower house of the Parliament) to replace an ordinance issued last month to resolve all disputes between regulators over hybrid financial products like the popular unit-linked insurance plans (ULIPs). The ordinance was issued after a public spat between the Securities and Exchange Board of India and the insurance regulator over who had jurisdiction on the ULIPs, the popular investment-cum-insurance products.
 

• Link to Economic Times
• Link to the Bill