IPF Trust and Committees at Market Infrastructure Institutions (MIIs)
Summary
This circular clarifies the uniform applicability of Investor Protection Fund Trust composition norms across all market infrastructure institutions. It mandates that specific IPF Trust functions apply exclusively to exchanges, while depositories must comply with these norms within three months. Additionally, it updates the nomenclature for certain committees at market infrastructure institutions to align with recent regulatory amendments.
Text
Norms for composition of IPF Trust... are uniformly applicable across Exchanges and Depositories.
The functions of IPF Trust... shall be applicable only to Exchanges.
Depositories shall ensure compliance with these norms within three months from the date of this circular.
The name of 'Investor grievance redressal committee' shall be read as 'Grievance redressal committee'.
The name of 'Member selection committee' shall be read as 'Member committee'.
Source: SecMarx — IPF Trust and Committees at Market Infrastructure Institutions (MIIs). Verbatim text is public record; SecMarx structuring (linkage to applying orders) is cited to us.