Investor Protection Fund

With an aim to enhance investor protection and curb financial fraud, markets regulator Sebi on Tuesday directed all its regulated and registered entities to exclusively use the '1600' phone number series for service and transactional voice calls to their existing customers. This directive aims to enhance investor security by minimising the risk of fraud perpetrated by unscrupulous entities that often use regular 10-digit numbers to disguise their identities. By adopting the '1600' number series, investors will be able to easily identify and attend calls from Sebi-regulated entities, thereby reducing the chances of falling victim to financial scams. "All regulated/registered entities are advised to only use the '1600' phone number series exclusively for service and transactional voice calls to their existing customers," Sebi said in a statement. The regulator has asked investors to remain vigilant and report any unsolicited commercial communications (UCC) or suspected fraudulent ...

The regulator has proposed that if the client is not reachable or the funds cannot be credited to their bank account, such accounts will be put under 'enquiry status'

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Capital markets regulator Sebi on Tuesday came out with exhaustive guidelines for Investor Protection Fund (IPF) and Investor Services Fund (ISF) maintained by stock exchanges and depositories. The detailed guidelines are about 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 detailed Standard Operating Procedure (SOP), indicating the process and timelines for the declaration of default of a trading member (TM), processing of investor claims out of IPF, and review of claims, according to a circular. About the constitution, Sebi said that all stock exchanges and depositories will have to establish an IPF. The IPF of the stock exchange and depository will be administered through separate trusts created for the purpose. The IPF Trust of the stock exchange and Depository will consist of five trustees -- three Public Interest Directors, one representative from the investor ...

The government on Monday said Rs 414.24 crore has been paid to a total of 34,497 clients of Karvy Stock Broking Ltd (KSBL) from the National Stock Exchange's (NSE) investor protection fund till March 2023. In addition, NSE along with other market infrastructure institutions (MIIs) have also monetised the mutual fund distribution business of KSBL, and funds amounting to Rs 150 crore have been realized and the same is being utilized for distribution to clients of KSBL, Minister of State for Finance Pankaj Chaudhary said in a written reply to Lok Sabha. The case pertains to Karvy unauthorisedly transferring securities of its clients in one of its demat accounts by misusing Power of Attorney (PoA) given to its clients. NSE and BSE suspended trading terminals of KSBL from December 2, 2019 and declared it a defaulter on November 23, 2020 for misusing clients' funds and securities. Moreover, NSE has declared 32 stock brokers as defaulters in the past five years for failing to comply wit

The announcement has been made to safeguard investors from traders who claim to have services other than broking services without having the applicable registration

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Asserts that by representing the OFCD as pvt placement, issuers deprived subscribers of various measures of investor protection

Market regulator Sebi has directed stock exchanges to enhance their investor protection fund (IPF) corpus

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"Such revision is applicable in respect of all claims settled out of Trust, wherein settlement is done post the date of revision of such limits i.e. February 12, 2020," it said

All the penalties levied and collected by the commodity exchanges, except for the settlement-related fines, including penalties from delivery default