To bolster awareness among investors and ring-fence them from possible frauds, capital markets regulator Sebi plans to seek additional funds from the government for strengthening its IPEF (Investor Protection and Education Fund) programmes. Sebi has identified empowerment of investors, strengthening of enforcement and supervision framework and capacity building as among its core focus areas for 2014-15.The proposal to boost IPEF allocation, along with other efforts to help it execute its regulatory and investor protection functions, would be discussed at the Sebi board meeting in Mumbai tomorrow, which is likely to be its last meet in the current financial year ending on March 31.With expenses towards various investor protection and education initiatives estimated to be nearly Rs 55 crore for next fiscal, Sebi may seek board's approval for additional funding for IPEF, a senior official said. Investor Protection and Education Fund (IPEF), set up by Sebi, had a corpus of Rs 35 crore at the end of January 2014. Besides to ensure adequate funds are at its disposal, Sebi plans to request the government to allocate funds from Investor Education and Protection Fund (IEPF). The proposal, that focuses mainly on investor awareness and protection, for next financial year would be placed before the board, which is also likely to discuss proposals aimed at bolstering financial resources of Sebi.
News On AIR | March 20, 2014 8:50 AM
SEBI to seek more central funds for investor education programmes