TaxTMI 
TaxTMI 
RBI releases Draft Guidelines on Wealth Management/Marketing/ Distribution Services offered by Banks
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....BI releases Draft Guidelines on Wealth Management/Marketing/ Distribution Services offered by Banks <br>News and Press Release<br>Dated:- 29-6-2013<br><BR>The Reserve Bank of India today released on i....
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....ts website, 'Draft Guidelines on Wealth Management/Marketing/Distribution Services offered by Banks' for comments and feedback. Comments / feedback on the draft guidelines may be sent by email latest....
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.... by July 31, 2013 to the Chief General Manager, Department of Banking Operations and Development, Reserve Bank of India, Central Office Building, 13th Floor, S.B. Singh Marg, Mumbai-400001. Backgroun....
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....d The Monetary Policy Statement for 2013-14 had indicated that banks offering Wealth Management Services (WMS) which include referral services, Investment Advisory Services (IAS) and Portfolio Manage....
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....ment Services (PMS) are exposed to reputational risks on account of mis-selling of products, conflicts of interest, lack of knowledge and clarity about products and frauds. The Monetary Policy Stateme....
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....nt had also indicated that detailed guidelines on marketing and distribution of third-party financial products would be issued in the wake of the irregularities observed in banks offering such service....
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....s. It was, therefore, proposed to issue comprehensive guidelines on wealth management and marketing/distribution services offered by banks. Ajit Prasad Assistant General Manager Press Release : 201....
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....2-2013/2215<BR> News - Press release - PIB....