SEBI Investor Protection & Education Fund to be headed by KV Kamath

Securities and Exchange Board of India (SEBI) on 23 November 2011 constituted advisory committee for SEBI Investor Protection and Education Fund. The committee consist of eight member. The committee is to be headed by Infosys chiarman KV Kamath. The eight-member committee under the ICICI Bank chairman comprises five external members and three SEBI officers.

The eight-member panel also consists of Abraham Koshy, professor at IIM Ahmedabad; Jayashree Vyas, MD, Shri Mahila SEWA Sahkari Bank and Ramesh Narayan, communications consultant, among others. SEBI’s ED Ananta Barua and chief general managers GP Garg and VS Sundaresan will represent the regulator.

The committee will recommend investor education and protection activities that may be undertaken directly by the board, or through any other agency, for utilisation of the SEBI Investor Protection and Education Fund for the purposes stated in the SEBI regulations, 2009. The committee will look at investor education and protection activities that SEBI could undertake directly or through any other agency.

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