28 July 2010

Financial sector turf demarcation - Bill

Here is a link to the The Securities and Insurance Laws (Amendment and Validation) Bill, 2010 in case you were searching. It replaces the controversial ordinance discussed extensively in the English press. It's probably a non-event as far as Parliament goes - there are more important things to be discussed by the Parliament than some exotic financial sector turf issue. Consider the Bill as passed - though there are some concessions made based on the RBI protests over the Ordinance.

PS: As discussed previously on this blog - the Ordinance or Bill do not attempt to resolve every turf issue between financial regulators - only certain types of definitional issues of financial products or instruments.

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