IRDA wins over SEBI on ULIP policy verdict
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Couple of weeks back I have written about the power struggle between the insurance regulator IRDA and stock market regulator SEBI. Firstly, SEBI has banned 14 insurance companies to stop selling the ULIP polices and it requests them to register with SEBI to issue the fresh ULIP policies. It made fierce battle between IRDA and SEBI to control the ULIP policies. This issue is moved to the court finally to decide the fate of these two regulators.
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- What is ULIP?
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- SEBI Bans 14 Insurance Companies to sell ULIPs
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Last week finance ministry has announce that, IRDA has the full control on ULIP policies. SEBI has no rights to ask them to stop issuing the fresh policies. It came as the big blow to SEBI. Everyone expected that the verdict will come in favor of SEBI because the 80% of the money in ULIP policies are invested in the stock market.
What is your opinion about this result? Do you think IRDA is the right person to regulate the ULIP policies, or there is lot of amendments needed in the policy structure? Please post your thoughts on the comments section
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