Sebi notifies depositories to credit 5% of profits to IPF
Sebi notified that every depository has to credit 5% of its profits from depository operations every year to the Investor Protection Fund
Mumbai: The capital markets regulator on Thursday notified through a gazette that every depository has to credit 5% of its profits from depository operations every year to the Investor Protection Fund, for promotion of investors’ awareness.
The Securities and Exchange Board of India in its 30 November board meeting had cleared this proposal, following a recommendation by a the report of an expert committee on clearing corporations under the chairmanship of K.V. Kamath.
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