SET To Set Up Investor Protection Fund

[george]

SET To Set Up Investor Protection Fund

BANGKOK: -- The Stock Exchange of Thailand, or SET, said Thursday its board has approved the establishment of a fund designed to protect investors' assets deposited at securities companies.

The SET said the fund will provide compensation to investors who fail to get the assets they've deposited with a securities company should that company go bankrupt.

The SET will provide an initial startup fund of 300 million baht ($1=THB40.808). Securities companies will also be asked to provide monthly financial support in proportion to their trading value, the SET said in a statement.

The establishment of the fund is aimed at building investor confidence as well as developing the infrastructure of the Thai capital market over the long-run, the SET added.

--Dow Jones 2004-07-08