Tussle between SEBI & IRDA

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Bhavani Prasad CN (Querist)
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14 April 2010 Dear Learned members

Where do you think the fiasco between IRDA and SEBI is going to end.SEBI once again reiterated that the new ULIPS from 10-04-2010 shall be under the purview of SEBI.

What is the role of IRDA in the current juncture,do you think its just one more regulator or does it have any discretionary powers in the current issue.

Members views are solicited

Rasesh

Rasesh (Expert)
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16 April 2010 The evening news is that In the face of Hyderabad-based Insurance Regulatory & Development Authority's (IRDA) decision of moving court to challenge a ban on Unit Linked Insurance Products (ULIP) imposed by it, market watchdog the Securities and Exchange Board of India (Sebi) today moved the Supreme Court and some High Courts to guard against any ex-parte decision.

According to highly placed sources, the Sebi filed caveats including in High Courts of Delhi, Bombay and Hyderabad but no official comments could be obtained from the market regulator.

While SEBI is all these acts stating that it is in the interest of the investors, it is also a fact that if regulators fight in this way for their rights, then it is definately not a good sign. who knows SEBI might now bring the pension scheme under its purview.

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