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TMI BlogModification to Standard Operating Procedure in the cases of Trading Member / Clearing Member leading to defaultX X X X Extracts X X X X X X X X Extracts X X X X ..... g Procedure in the cases of Trading Member / Clearing Member leading to default 1. SEBI vide circular no. SEBI/HO/MIRSD/DPIEA/CIR/P/2020/115 dated July 1, 2020 had specified the Standard Operating Procedure enumerating the steps to be taken by the Stock Exchanges ("SEs"), Clearing Corporations ("CCs") and Depositories in cases where SE / CC is of the view that Trading Member / Clearing Member is ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the unencumbered deposits available with the SEs/ CCs, after adjusting for any dues of the SE / CC and maintaining the minimum BMC, shall also be utilised for settling the credit balance of investors starting from the smallest amount. Such amount shall be paid in full to all such investors having credit balance up to the amount of Rs. 25,00,000/- (Rupees twenty five lakh), subject to availability ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... demnity to the SEs to make available the funds to meet any shortfall in meeting investor's claim (other than those who have withdrawn their claim). Clients withdrawing their claim will have to submit unconditional withdrawal letter to the SEs. Within 30 trading days from crystallization of balances 3. All other provisions specified in SEBI circular dated July 1, 2020 shall continue to remain app ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... investors in securities and to promote the development of and to regulate the securities markets.
7. This Circular is issued with the approval of competent authority.
8. This Circular is available at www.sebi.gov.in under the link "Legal→Circulars"
Yours faithfully
Rachna Anand
General Manager
Tel. No: 022 26449582
[email protected] X X X X Extracts X X X X X X X X Extracts X X X X
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