Regulators

US and European regulators ignored basic risk management. But why do regulators allow financial sector firms to gamble with depositors' money?

After facing an intense scrutiny of its Search and advertising businesses, Google is reportedly facing another potential probe from the US Department of Justice (DoJ)

Discussions with foreign regulators positive

Taking a dig at undue delay in clearance of Surety Bond Insurance product at the regulators' end, Union road transport minister Nitin Gadkari on Monday said they should not take years to approve a small innovative scheme. Talking about his personal experience with regard to getting approval for a surety bond insurance for infrastructure sector, he said, the IRDAI took three years to clear the product even after a lot of persuasion from the ministry. The minister on Monday launched the country's first-ever surety bond insurance product for the infrastructure sector, which has been developed by Bajaj Allianz General Insurance. Surety Bond Insurance will act as a security arrangement for infrastructure projects and will insulate the contractor as well as the principal (contract awarding authority) from any loss. "Insurance Regulatory and Development Authority of India (IRDAI) took three years to do (a) detail study of surety bond proposal. After three years, the regulator gave NOC ...

On Oct 31, ESMA de-recognised CCIL apparently over RBI's refusal to grant audit and inspection rights; Move has potential to hamper bond and derivative trading operations of European banks in India

The registrar and transfer agent was found to be violating rules during a Sebi inspection in 2019-2020

The Fintech department of the RBI will act as a nodal point for receiving applications under this initiative

This is probably the first time the regulator has cracked down on lenders on recovery by coercive methods, which is typically a hallmark of outsourced recovery agents

Rise of the fintech sector is posing a two-fold challenge before regulators and the govt: To turn India into a fintech superpower while ensuring consumer safety by firms. Our next report tells more

Buch also said that if your business model is woven around a black box, which is not open to sunlight for disinfecting or not capable of being audited or validated, it cannot be permitted.

Finance industry veteran Deepak Parekh on Wednesday said regulators are lenient on state-run companies, and there is a need to have a parity between public and private enterprises. He said the leniency is seen in various mandates like adhering to having required number of independent directors or women directors on board, and added that there is a "little less accountability" in the public sector. "Regulators are a bit lenient on public sector companies," Parekh said, speaking at the launch of the book "The Undercover Monk" here. Parekh, who is the chairman of mortgage major HDFC which is presently seeking regulatory nods for merging with subsidiary HDFC Bank, added, "same rules should apply on governance and disclosure norms". Parekh said sometimes, government nominee director's unavailability leads to cancellation of a meeting and recounted an experience while serving a state-run company's board. Parekh said after reaching New Delhi, he was informed that the meeting was postpone

A new regulator, PARAKH (Performance Assessment, Review and Analysis of Knowledge for Holistic Development), is being set up to oversee the process and conduct the National Achievement Survey (NAS)

Also suggests that regulatory instructions should contain a statement of objective underlying the rationale for their issuance, supplemented with FAQs/guidance notes and illustrations

The regulator will be given powers to sanction clubs in English football that break financial and other rules

Regulators and policymakers should proactively follow technological developments, predict innovation-led disruptions and manage them effectively and constructively, at a day and age where new generation of mobile communication will be seen in less than 10 years, TRAI Chairman PD Vaghela said on Friday. The role of regulators should be to create a facilitating, flexible, adaptive and light-touch regulatory ecosystem, which is based on the cardinal principle of forbearance, Vaghela noted. "We are in that age, where we will see a new generation of mobile communication in less than 10 years. For example, 5G is not even deployed fully and there is already a buzz of 6G technology," the TRAI chief said addressing India Mobile Congress (IMC) 2021 event. The regulators and policymakers should proactively follow the technological development, predict the innovation-led disruptions and manage the disruptions effectively and constructively, he said. An enabling regulatory environment would hel

Incoming requests from foreign regulators also dropped to their lowest since 2012-13

Here are the best of Business Standard's opinion pieces for Monday

China's competition watchdog is adding staff and other resources as it ramps up efforts to crack down on anti-competitive behaviour

Here's a selection of Business Standard opinion pieces for the day

If past experience is anything to go by, creating a new sectoral regulator for a specific industry is more likely to undermine the objective of combating anti-competitive conduct