Friday November 21 2014
News Source: Global Exchanges
Focus: Foreign Investment
Type: General
Country: India
Link: http://www.sebi.gov.in/cms/sebi_data/attachdocs/1411986029965.pdf
The Securities and Exchange Board of India (SEBI) have made changes to the Investor Protection Fund (IPF)/Customer Protection Fund (CPF) Guidelines.
If any eligible claims arise within three years from the date of expiry of the specified period, such claim:
- shall be considered eligible for compensation from IPF/CPF where the defaulter member’s funds are inadequate. In such cases, IPF/CPF Trust must be satisfied that such a claim could not have been filed during the specified period for reasons beyond the control of the claimant.
- shall not be considered eligible for compensation from IPF/CPF in case where the surplus funds of the defaulter member is returned to the defaulter member. The same shall be borne by the stock exchange after scrutinizing and satisfying itself that such claim could not have been filed during the specified period for reasons beyond the control of the claimant.
Click link above for further details.