Finmin seeks law ministry help to break Sebi-Irda ice

Unable to broker truce between the two financial sector regulators over the jurisdiction of unit-linked insurance products (Ulips), the ministry of finance has now sought law ministry s opinion to tackle the issue. Law ministry has been approached to find a way to craft a joint petition. The decision is an outcome of the latest inconclusive meeting held on Tuesday among finance secretary Ashok Chawla and Insurance Regulatory & Development Authority chairman J Hari Narayan and Securities &Exchange Board of India chairman CB Bhave. The meeting took place after the Supreme Court issued notices to the Centre, Irda and 14 life ...

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