"Failure to observe such due diligence obligations shall result in...
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Regulation
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Govt probes insurers paying excessive distribution commissions without growing business
The Department of Financial services (DFS) has sent letters to...
MCA relaxes KYC norms for directors, replaces annual filing with 3-yr cycle
A revised KYC form has been introduced, which can be used not only...
India’s financial system resilient, diverse: IMF report
The report observed that India's insurance sector is strong and growing, with a significant presence in both life and general insurance. The sector has remained stable, supported by better regulations and digital innovations New Delhi: The Indian financial system has...
Goa CM Sawant appointed convenor of GoM on GST revenue analysis
Pramod Sawant,Chief Minister,Goa As per the memorandum, the terms of reference for the GoM comprise state-wise revenue trend analysis, including the identification of revenue patterns across sectors and regions Panaji: Goa Chief Minister Pramod Sawant has been...
SEBI forms committee to review conflict of interest
"The objective of the high-level committee is to comprehensively review and make recommendations for enhancing the existing framework for managing conflict of interest, disclosures and related matters towards ensuring the high standard of transparency, accountability...
Sebi board allows investment advisers, research analysts to charge advance fees for up to a year
"In order to address those concerns, the board has decided that if agreed by the client, (IAs) and research analysts(RAs) may charge fees in advance up to a period of one year. Earlier, investment advisers IAs and RAs were allowed to charge advance fees for a maximum...
SEBI panel soon to work on conflict of interest rules for board members: Report
“We need to not only create trust of all stakeholders in us (SEBI) but we also need to maintain that trust. To that extent, we need to be more transparent, including on various other measures such as conflict of interest of the (SEBI) board and so on,” SEBI Chairman...
Regulatory breaches emerge as top risk for Asian Boards, Willis & Clyde & Co survey
While the risk of data loss and cyber-attacks remains among the top three concerns in Asia, health and safety risks have dropped three places from being the top concern in 2024 to fourth on the list this year. A notable exclusion from the top risks is climate change,...
Operating mall without environmental nod extremely serious HC upholds closure order
The petitioner company, Grauer and Weil (India) Limited, considers itself above the law and has shown scant regard for environmental concerns, a division bench of Justices M S Sonak and Jitendra Jain said in its order on Wednesday Mumbai:The Bombay High Court has...
Allianz and Mukesh Ambani’s Jio Financial may have reached initial deal for 2 Indian insurance JVs
The move comes as the German insurer agreed earlier this week to sell its stake in joint ventures with Bajaj Finserv Ltd. Both Jio and Allianz are in the process of finalizing the ownership structure, said the people who asked not to be identified as the matter is...
Elon Musk’s X sues Centre over alleged Censorship, IT Act Violations
'X' (formerly Twitter) raised concerns over the Centre's interpretation of the Information Technology (IT) Act, particularly its use of Section 79(3)(b), which 'X' argues violates Supreme Court rulings and undermines free expression online. The lawsuit alleged the...
LIC dispels Rahul Gandhi’s concern over new IRDAI rules making insurance unaffordable for poor and affecting agents
“ We want to clarify that LIC has introduced products that align with the New Product Regulations set by IRDAI, effective from October 1, 2024, keeping policyholders’ interests at the forefront .” said Siddhartha Mohanty, CEO & MD, LIC Kumud Das New Delhi/Mumbai;...