Investor Protection Fund rules updated - revised trusteeship, funding sources and claim eligibility for commodity exchange investors. The circular prescribes IPF Trust composition, funding from designated penalties and turnover fee contributions, claim eligibility and prioritisation where defaulter member assets are inadequate, and procedures where the defaulters' committee assesses legitimate claims and advises the IPF Trust which may disburse upon claim crystallization without awaiting asset realizations. It also mandates establishment and funding of ISF for investor service centers, supervised use of IPF income for investor education, separate bank accounts for IPF and ISF, and requires exchanges to amend bye laws and report implementation.
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Investor Protection Fund rules updated - revised trusteeship, funding sources and claim eligibility for commodity exchange investors.
The circular prescribes IPF Trust composition, funding from designated penalties and turnover fee contributions, claim eligibility and prioritisation where defaulter member assets are inadequate, and procedures where the defaulters' committee assesses legitimate claims and advises the IPF Trust which may disburse upon claim crystallization without awaiting asset realizations. It also mandates establishment and funding of ISF for investor service centers, supervised use of IPF income for investor education, separate bank accounts for IPF and ISF, and requires exchanges to amend bye laws and report implementation.
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