Regulation

Sebi panel recommends seeking powers to tap phone calls

Indian News       Aug 09, 2018

  New Delhi: Suggesting sweeping reforms, a high-level committee on Thursday recommended market watchdog Securities and Exchange Board of India (Sebi) to seek powers to intercept phone calls to aid investigations and also grant immunity to whistleblowers blowing the lid off frauds and other violations.   The...

Concerns mount over Data Privacy Guidelines set by Genetic-Testing companies

Articles       Aug 04, 2018

  Genetic-testing companies that have decoded the DNA of millions just introduced new guidelines to protect data privacy.   But those best practices failed to address a major concern: what happens to customers’ data that is shared for research with pharmaceutical giants, academics and others, often for...

IRDAI to unveil stringent customer data protection regulations vis-a-vis Insurtech

Indian News       Aug 01, 2018

  Hyderabad: In a bid regulate the use of technology-Insurtech- by the Indian insurance industry, with a strong focus on the protecting the rights and interests of customers, the insurance regulator IRDAI's working group has said that the consent of the customer to share his data...

Cubillas Ding,Research Director, Celent

SAS supports Insurers to meet IFRS 17 compliance

Articles       Jul 30, 2018

  When the new International Financial Reporting Standard 17 (IFRS 17) takes effect onJanuary 1, 2021, it will upend decades-old insurance financial reporting standards. Though seemingly the tiniest glimmer on a distant horizon, navigating the intricacies of IFRS 17 will require painstaking planning and precision. Only...

Asian life insurance regulations are still 'rules-based': Milliman

International News       Jul 25, 2018

  Seattle: Milliman Inc, a premier global consulting and actuarial firm, announced the release of its latest report, entitled "Regulatory diversity across Asia," which provides an insightful analysis on current regulations applicable to life insurers across 14 Asian markets.   The different markets are at very different...

Suresh Mathur, executive director, IRDAI

Mathur panel to check `exclusions' in health insurance policies

Indian News       Jul 24, 2018

  Hyderabad:  The insurance regulator IRDAI has formed a panel under the chairmanship of Suresh Mathur, executive director,IRDAI, to suggest measures to bring in standardisation and to enhance transparency and uniformity in the health insurance, particularly in the matter of ‘exclusions’ as part of product design.  ...

Financial Services Industry slams latest UK proposal for Post-Brexit EU trade ties

International News       Jul 13, 2018

May is now leaning toward an agreement for the U.K. that will be similar to so-called equivalence — existing arrangements the bloc has with other countries, based on maintaining similar regulations, according to the long-awaited White Paper on Brexit. As a result, U.K.-based banks would...

SC stays SAT order against Joseph

Indian News       Jul 02, 2018

  New Delhi: Providing an interim relief, the Supreme Court(SC), that opened on Monday after six weeks of Summer break,stayed the March 16 judgment of the Securities Appellate Tribunal order that had made strong charges against PJ Joseph, member(non-life), IRDAI.   According to the SC website, the...

IRDA clears LIC's IDBI Bank acquistion plans, defers approvals for new `Reinsurance Regulations'

Indian News       Jun 29, 2018

  Hydearbad: The board of the insurance regulator IRDAI on Friday cleared a proposal by which the Life Insurance Corporation(LIC) can pick up upto 51per cent in the IDBI bank while deferring the final approval of  the revamped ``Reinsurance Regulations’. ``Yes , we have cleared a...

Malaysia Expected to Give Foreign Insurers More Time to Cut Local Stakes

International News       Jun 28, 2018

  Malaysia’s central bank is considering granting extensions to some foreign insurers to give them more time to trim stakes in their local ventures, people with knowledge of the matter said.   Foreign insurers are expected to be given additional time to comply with the ownership limit...

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