Annual Report 2017

154 Annual Report 2017 The SIPF was formally established under SIPF regulations on 1 October 2004. The objective of the fund is to protect and build investor confidence in trading listed securities on the SET through the members of the SIPF. As at 31 December 2017, there were 34 SIPF members from securities companies (2016: 34 SIPF members). The assets of SIPF consist of: 1) the initial fund from the SET of Baht 300 million; 2) the cumulative membership entrance fees and monthly fees collected from the members; and 3) the future benefits generated from investments in the SIPF. SIPF will protect the investors’ assets which are in the custody of the securities brokers who are members of the SIPF. In the event that the members of the SIPF fail to return the assets to investors, each investor shall be compensated by the SIPF for the related damages at the actual cost, but not exceeding Baht 1 million per SIPF member, in the following cases: 1) if any SIPF member is in receivership under the Bankruptcy Act or 2) if there are disputes concerning the purchase or sale of securities listed on the SET between investors and any SIPF member, and the arbitrator’s award is that the SIPF member shall return the assets to investors, but the SIPF member violates the award. The protection will not include any losses from securities trading regardless of who makes the investment decision.