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CSE INVESTORS’ PROTECTION FUNDWhat protects you if your broker company becomes insolvent or it goes for winding up? That’s why the CSE Investor Protection Fund exists. The CSE, in collaboration with its member companies established CSE Investor Protection Fund in 1999 to compensate within define limits, the claims of the Client against defaulting broker. You, the investor, pay no fees for getting protection of the fund. Coverage is automatic when you open an account with a CSE Member. However you must lodge the claims to the Trustees within 6 months from the date of declaring defaulter of the member. What backs up this Protection? The fund is managed and controlled by a Board of Trustees. CSE contributed Tk. 0.5 million as initial contribution to the fund. CSE also contribute on quarterly basis to the Fund as its contribution the amount representing 0.50% (point five zero percent) of the listing fee received by the CSE during the immediately preceding quarter placed in the Fund immediately after closure of each quarter. CSE Members makes periodicals contribution to the fund at the rate of Tk. 0.50 for every Tk. 10.00 lakh of their respective transactions. Participants in the fund for members are compulsory. There is a limit on the amount of coverage. The compensation paid to an individual investor shall not exceed a sum of Tk. 50,000/- (Taka Fifty Thousand Only) but the Board of Trustees may, at any time, in consultation with the Board of Directors may increase the limit. [Top] |
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