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SEBI Notifies AMC Repo Clearing for PFMIs Compliance

SEBI notifies the compliance of AMC Repo Clearing with PFMIs, aligning with global financial standards for enhanced market robustness and safety.<br>

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SEBI Notifies AMC Repo Clearing for PFMIs Compliance

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  1. SEBI Notifies for Applicability of SEBI Circular on PFMIs to AMC Repo Clearing Limited

  2. On 16th December 2022, the Securities and Exchange Board of India (SEBI) issued a Circular in regard to the applicability of the SEBI Circular on Principles of Financial Market Infrastructures (PFMIs) to AMC Repo Clearing Limited. This particular Circular was issued through the exercise of powers as conferred under Section 11 of the Securities and Exchange Board of India Act, 1992, to serve the purpose of protecting the investor's interests in regard to securities along with promoting the development and regulation over the securities market. The CIR/MRD/DRMNP/26/2013 issued on 04th September 2013, with the subject being "Principles of Financial Market Infrastructures (PFMIs)", mandates Clearing Corporations and Depositaries for complying with the PMFIs which is published by the Committee on Payments and Settlement Systems along with the International Organisation of Securities Commissions. SEBI Circular bearing reference no. The SEBI has further notified that the Securities Contracts (Regulation) (Stock Exchanges and Clearing Corporations) (Amendment) Regulations, 2020, issued on 08th October 2020 for permitting the setting up of a Limited Purpose Clearing Corporation to clear and settle transactions of repo transactions in debt securities. The SEBI has further notified that the AMC Repo Clearing Limited was granted recognition as a Clearing Company to clear and settle transactions in the repo and reverse repo for debt securities which are then dealt with or traded on as a recognised stock exchange, notified through a Gazette Notification issued on 24th January 2022. The provisions mentioned in the previously mentioned Circular that is applicable to AMC Repo Clearing Limited. The Circular is deemed effective immediately. Sushree Dash Legal Researcher Official Notification Attached here

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