SEBI vide press release PR No.96/2010 dated April 13, 2010 has stated it has decided to keep in abeyance, till further notice, the enforcement of its order (banning 14 life insurance companies from selling ULIPs till they obtained SEBI registration) with respect to the ULIP schemes /products existing on the date of the order, i.e. 09.04.10. However, with respect to any new ULIP schemes / products launched after 09.04.10, the directions mentioned in the said order will be enforced.
A copy of the press release is available here.
Tuesday, April 13, 2010
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