SEBI, IRDA to introduce disclosure norms

By SiliconIndia   |   Monday, August 24, 2009   |    1 Comments
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Bangalore: A separate set of disclosure norms for insurers looking to list on stock exchanges is on the cards. The rules are currently being worked out by Securities and Exchange Board of India (SEBI) and Insurance Regulatory and Development Authority (IRDA). Confirming the development C B Bhave, Chairman of SEBI said, "IRDA and SEBI have a team, which is working on these issues as to what kinds of things are required when an insurance company comes with an Initial Public Offering (IPO)." None of the insurance companies at present is listed, Bhave said, adding disclosure norms for listed entities in insurance sector may be different from other companies. Bhave said once the working group has decided as to what needs to be done and the respective board of SEBI and IRDA approves the norms, then they would come in public domain.
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