Sebi will abide by Ulip law, says Bhave

CB Bhave, chairman, Securities and Exchange Board of India (Sebi) said on Wednesday that with the laws governing unit-linked insurance products (Ulips) having changed, the market regulator would abide by them. We all operate under the laws as they exist. The law has changed now and so now, we will operate under a new law, Bhave said at a press conference in Mumbai. Bhave also asked the mutual fund industry to get its incentive structure right to benefit investors and the industry in the long term. Addressing the inaugural session of the CII Mutual Fund Summit 2010, Bhave observed that ...

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