TRAI is in the process of operationalising system of separate 160...
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DPDP rules in monsoon session of Parliament, Digital entities to get 2-yrs to comply: Vaishnaw
"We have also kept graded punishments to protect the interests of...
Consent management, localisation, parental nod for kids on social media in focus: Experts on DPDP
"We foresee that businesses will face some complex challenges in...
Aon’s EU concessions for $30 billion Willis bid may not be enough:
Last Friday, the London-headquartered company submitted concessions to the European Union’s competition watchdog, which did not disclose details in line with its policy. The watchdog often requires acquiring companies to make concessions that will strengthen rivals before giving its go-ahead.
Aon has proposed selling Willis Re, its biggest concession, and Willis’ German retirement benefits and consulting business. It has also offered to sell Willis’ insurance broking activities in France, including French unit Gras Savoye, as well as in Germany, Spain and the Netherlands, one of the people said.
India’s richest man Ambani fined for irregularities in Reliance share issue
“It is noted that in the instant matter the noticees have been alleged to have failed to make public announcement to acquire shares of RIL and deprived the shareholders of their statutory rights / opportunity to exit from the target company and therefore they breached the provisions of Takeover Regulations. Such charges against the noticees make the instant matter grave,”Sebi has said in an order.
IRDAI tightens product and pricing regulations to check undercutting or inflating of premiums by general insurers
Analysts point out that, such regulations to check undercutting of premiums, that have been happening since detariffing was launched in the Indian general insurance industry in 2007 were overdue. Such cut throat unethical competition was generating huge underwriting losses in the domestic general insurance indstry which was not good for the financial viabilities of the players who are saddled with underwriting losses and even net losses even after so many years of operations..
RBI orders MobiKwik to probe alleged data leak: source
“The RBI has given MobiKwik an ultimatum and ordered them to retain an external auditor to conduct a forensic audit,” said the person, adding the RBI could also impose fines if the breach is proven.
Skyrocketing liability insurance rates for SPACs
. Coverage of about $10 million to indemnify a blank-check company’s directors and officers now costs more than $1 million on average, according to a lawyer who works on SPAC deals. That’s up from $250,000 to $300,000 a year ago.
Britain and EU strike financial services cooperation pact
So far, the EU has declined to grant any long-term direct access for financial firms from Britain, saying this week that it was in no rush.
“Overall, for investors in UK financial services, a greater degree of cooperation between Europe and the UK can only be seen in a favourable light,” said Alan Custis, head of UK equities at Lazard Asset Management.
There’s need to integrate various regulatory agencies with single-window system: Pharma secy
The medical devices industry, which is growing at a compound annual growth rate (CAGR) of about 15 per cent, holds the highest growth potential among all the constituents of the healthcare sector such as pharma and hospital services, an official statement said quoting S Aparna, secretary of Department of Pharmaceuticals, under the Ministry of Chemicals and Fertilisers.
India will have heterogeneous banking sector in a decade with four types of banks: Shaktikanta Das
There will be large banks having presence across the country and the world, mid-size banks present across the economy, small finance banks/regional rural banks/cooperatives to take care of the small borrowers and digital players, said RBI governor Shaktikanta Das .
IRDAI directions for insurers on fraudulent calls
As per TRAI notification, principal entities including insurers have to have to register with their respective telecom service providers, to be allotted a header along with their identity for proper identification of all messages and voice calls.
HDFC Bank, SBI, others not adhering to norms on bulk SMSes, says Trai
“As sufficient opportunity has been given to principal entities/ telemarketers to comply with the regulatory requirements and that the consumers cannot be deprived of the benefits of the regulatory provisions any further, therefore it has been decided that from April 1, 2021, any message failing in the scrubbing process due to non-compliance of regulatory requirements will be rejected” by the system, TRAI said in a statement.
TRAI’s norms for commercial messages, based on blockchain technology, aim to curb unsolicited and fraudulent messages.