Sebi puts in place guidelines for Investor Protection Fund, Investor Services Fund
The Securities and Exchange Board of India (SEBI) has issued comprehensive guidelines for Investor Protection Fund (IPF) and Investor Services Fund maintained by stock exchanges and depositories. The guidelines cover the constitution and management of the IPF, contribution to IPF by exchanges as well as depositories, and utilization of IPF. In addition, SEBI has issued a Standard Operating Procedure (SOP) indicating the process and timelines for the declaration of default of a trading member, processing of investor claims out of IPF, and review of claims. The new guidelines will be effective from 29 June.
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