Irdai proposes graded approach for non-compliance by brokers

Insurance Regulatory and Development Authority of India (Irdai) in its norms on non-compliance by brokers said there would be a graded approach to any violation Stock Market Trading Tips

It said that this was to simplify the application of penalties in case of non-compliance/ violation of regulations.

Irdai said that generally there would be a warning for first time non-compliance.

Later, it said largely not undertaking placement of new business till such time the problem is rectified or for 2/4 months whichever is later for second time non-compliance will be there Himanshu Tiwari Astrologer Blog 

For third time non-compliance, Irdai will initiate steps for suspension/ cancellation of the license with the condition that the broker will not undertake placement of new business till such time the problem is rectified or 6 months whichever is later for third time non-compliance.

The regulator has also put greater onus on the Principal Officer to ensure compliance as he will be held personally responsible along-with the compliance officer Indian stock market astrology prediction