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Kamath to head Sebi committee on investor protection fund

BS Reporter  |  Mumbai 

The Securities and Exchange Board of India (Sebi) has appointed K V Kamath, chairman of an advisory committee for the regulator’s Investor Protection and Education Fund (IPEF).

The committee will be responsible for advising Sebi on “investor education and protection activities that may be undertaken directly by the (Sebi) board, or through any other agency, for utilisation of the Sebi Investor Protection and Education Fund.”

The eight-member committee under the ICICI Bank chairman comprises five external members and three Sebi officers. Apart from Kamath, the members include retired bureaucrat

P K Ghosh, IIM Ahmedabad professor Abraham Koshy, communications consultant Ramesh Narayan and managing director of Shri Mahila SEWA Sahkari Bank, Jayashree Vyas.

The capital market watchdog will be represented by executive director Ananta Barua and chief general managers G P Garg and V S Sundaresan.

According to the norms for Sebi IPEF, the fund can be also be used to aid investor associations, recognised by the regulator and undertake legal proceedings in the interest of investors in securities that are listed or proposed to be listed. Itcan also be used for awareness programmes and educational activities.

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First Published: Thu, December 01 2011. 00:34 IST