A look at the recent rulings which can affect you.
According to Sebi, any issue of Indian Depository Receipts (IDRs), which would allow a foreign company to list its equity shares on the Indian stock exchanges, would have to reserve at least 30% of the issue size for retail investors.
The apex sectoral body for mutual funds, Amfi, has issued a fresh code of conduct for mutual fund intermediaries like agents and distributors, mandating them to disclose all commissions received from different schemes. This move, carried out on Sebi’s directive, attempts to make mutual funds more accountable.
Trai has rescinded its plans to ask operators to charge customers on a per-second basis so that they can enjoy the benefit of paying only for their usage. The telecom regulator now says that the model will not be mandatory for operators.
Irda has introduced disclosure norms for insurance companies, effective from 1 November 2009. Insurers will be required to make data for the past four-five years available and will have to provide disclosures on a quarterly basis. This will include a company’s investment profile, solvency, liability valuations and business statistics. These norms are in line with the International Association of Insurance Supervisors standards.
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