IRDA directive to shun brokers for gilt trades baffles insurers

According to a new directive by IRDA that has sent all insurers into a tizzy, buying and selling of sovereign securities can only happen on the anonymous trading screen. IRDA has also laid down that while using intermediaries for trades in equities and corporate bonds, no broker should handle more than 5% of the total volume in secondary market transactions.

from Banking/Finance-Industry-Economic Times https://ift.tt/xjJsoGi