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Regulators step in when the industry doesn't work in clients' interest
In some countries (India, Australia, UK) there is regulatory discussion to ban commissions. This regulatory position was taken, because the financial service industry didn’t step up to its obligations, to make the right recommendations, to work in the clients interest, the industry didn’t step up. Therefore, the regulator said we are going to step in.
http://www.livemint.com/2012/02/21205638/The-term-financial-planner-is.html?h=A2
22-Feb-2012
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Front loaders get front loaded
In an ironic twist, the front loading of commissions on insurance products has now spread to companies themselves. They’re selling bits of themselves against future earnings
http://www.livemint.com/2012/02/21212610/Frontloaders-get-frontloaded.html?h=D
22-Feb-2012
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Bancassurance deals may face regulatory scrutiny
Three deals said to involve the sale of equity stakes by insurance companies to banks may face scrutiny of the Insurance Regulatory and Development Authority (Irda) as they could be in breach of current rules.
http://www.livemint.com/2012/02/21232946/Bancassurance-deals-may-face-r.html?h=A1
22-Feb-2012
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Reliance Realty taps HNIs to build an LLP fund
Reliance Realty, part of the Anil Ambani group, is knocking on the doors of rich investors for raising a real estate fund that will have the innovative structure of a limited liability partnership (LLP) with investors as partners.
A hybrid of a company and partnership, the new structure will be free of dividend distribution tax and minimum alternative tax ( MAT). Market circles said the move could encourage more funds to come out with LLP structures because there is no regulatory cap on the number of partners that an LPP can have
http://economictimes.indiatimes.com/markets/real-estate/news-/anil-ambani-groups-reliance-realty-taps-hnis-to-build-an-llp-fund/articleshow/11984457.cms
22-Feb-2012
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BSE's SME exchange to witness first public issue
After much ado, the Bombay Stock Exchange (BSE) will kick-start its small and medium enterprises (SME) segment with the Rs 8.5-crore initial public offer (IPO) of a non-banking finance company (NBFC), BCB Finance. The IPO, which will open for subscription on February 23, will be the first issue to be traded on the segment in March
http://www.business-standard.com/india/news/bses-sme-exchange-to-witness-first-public-issue/465383/
22-Feb-2012
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SEBI's IPO moves face the MCX test
The initial public offering (IPO) of the Multi Commodity Exchange of India Ltd (MCX), which opens for subscription on Wednesday, will not only test the primary market, but also a slew of initiatives launched by the Securities and Exchange Board of India (Sebi) in recent months
http://www.business-standard.com/india/news/sebi/s-ipo-moves-to-facemcx-test/465378/
22-Feb-2012
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Small investors logging out from SIPs
Young Chinmay Pise never forgot to check the net asset value of his investments in equity mutual funds before going to bed. His tracking of investments only intensified this year, amid a swift rally in equity markets as the Pune-based software engineer had been investing through systematic investment plan (SIP) since September, 2010. And, last week when the fund value overtook his costs he chose to exit
http://www.business-standard.com/india/news/small-investors-logging-outsips/465382/
22-Feb-2012
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Low cover policies should be eligible for tax deduction : IRDA
Insurance sector regulator Insurance Regulatory and Development Authority (IRDA) has written to the government to make changes in the provisions of Direct Taxes Code (DTC) to allow insurance policies, which offer low insurance cover, eligible for tax deductions.
One of the key insurance-related provisions of the DTC is that a policy will not be eligible for tax deduction if it offers a life cover of less than 20 times the annual premium
http://www.hindustantimes.com/BusinessSectionPage/BusinessBankingInsurance/Low-cover-policies-should-be-eligible-for-tax-deductions-IRDA/Article1-814408.aspx
21-Feb-2012
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Pramerica MF to buy 39% stake in Prudent for Rs.20 crores
Pramerica Mutual Fund is close to buying a 39% stake in Ahmedabad-based retail distribution outfit Prudent Corporate Advisory Services for about Rs 20 crore, according to two persons close to the deal
http://economictimes.indiatimes.com/news/news-by-company/corporate-announcement/pramerica-mutual-fund-to-buy-39-stake-in-prudent-corp-for-rs-20-crore/articleshow/11969583.cms
21-Feb-2012
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PFRDA invites bids for managing NPS funds
Pension fund regulatorPFRDA has invited bids from financial institutions to manage funds under the New Pension Scheme (NPS) for the next three years beginning April 1, 2012.
http://economictimes.indiatimes.com/personal-finance/savings-centre/pfrda-invites-bids-for-managing-pension-funds-under-nps/articleshow/11964807.cms
21-Feb-2012
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