SEBI vide notification dated May 30, 2023 has issued a Comprehensive guidelines for Investor Protection Fund and Investor Services Fund at Stock Exchanges and Depositories. The guidelines provides that all stock exchanges and depositories shall establish an IPF. The IPF of the stock exchanges and depositories shall be administered through separate trusts created for the purpose.
The IPF Trust of stock exchange and depository shall consist of five trustees as under:
- Three Public Interest Directors (PIDs);
- One representative from the investor associations recognized by SEBI;
- Chief Regulatory Officer or Compliance Officer.