The Bombay Stock Exchange (BSE) on May 29, 2024, notified regarding the Amendment in Norms for eligibility of claims for compensation from IPF and enhancement in maximum compensation from IPF payable to the clients of the defaulter member.
The following has been stated:
• The Trading Members and Investors are hereby informed that the Member and Core Settlement Guarantee Fund Committee of the Exchange has amended the “Norms for Eligibility of Claims for Compensation from IPF to the Clients of Defaulter Member”.
• These amended Norms are attached herewith as Annexure-I.
• It has also enhanced the maximum amount of compensation payable from the Investor Protection Fund of the Exchange to the client of defaulter members from Rs. 15 lakhs to Rs. 16 lakhs per client of defaulter.
• The enhanced compensation and the amended norms shall be made applicable to the clients of those trading members who will be declared defaulters from the date of issue of this notice.
Kindly find the Annexure provided with this document attached to the document.
[Notification No 20240529-16]
