Round 2 goes to Sebi: new Ulips need registration

Market regulator Securities and Exchange Board of India made it clear on Tuesday that insurance companies will have to comply with its rules to launch new Ulips insurance products linked with stock market investment options. But it allowed a leeway for existing schemes from 14 insurance companies it had barred last week to continue unaffected. The release comes just a day after finance minister Pranab Mukherjee instructed Sebi and insurance sector regulator Irda to hold their fire and instead approach the courts on who will control unit-linked insurance plans. Mukherjee had specified that Ulips issued by the 14 insurers will ...

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