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TMI BlogFramework for utilization of Financial Security Deposit (FSD) available with Clearing Corporations and WDRAX X X X Extracts X X X X X X X X Extracts X X X X ..... Segment Dear Sir / Madam, Sub: Framework for utilization of Financial Security Deposit (FSD) available with Clearing Corporations and WDRA 1. SEBI vide its circular SEBI/HO/CDMRD/DMP/CIR/P/2016/103 dated September 27, 2016 had inter alia specified the norms requiring Financial Security Deposit (FSD) to be furnished by Warehouse Service Providers (WSPs) linked to the value of goods stored in the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sit: i. The Clearing Corporations shall immediately after accreditation, provide the details of WDRA registered warehouses accredited by them with full details of warehouseman registration, warehouse registration, WSP, address etc. to WDRA. WDRA will in turn, share the details of security deposit received from these accredited warehouses/WSPs to the respective Clearing Corporations as per the en ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... or inaction on its part or on the part of its warehouses that prevents the buyer or seller from exercising, in whole or in part, their rights. The Clearing Corporation shall compensate the aggrieved clients for any such losses that have been appropriately established by debiting the FSD of WSP held with the Clearing Corporation, in accordance with its applicable rules. In case the FSD available a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to the notice of other agency irrespective of invoking the security deposit. 3. The circular shall be effective from 30 days from the date of this circular. 4. This circular is issued in exercise of powers conferred under Section 11 (1) of the Securities and Exchange Board of India Act, 1992, to protect the interests of investors in securities and to promote the development of, and to regulate ..... X X X X Extracts X X X X X X X X Extracts X X X X
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