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of <h1>SEBI Issues New Guidelines on Margin Collection in Commodity Derivatives; Penalties for Delays and Defaults Enforced.</h1> The circular issued by SEBI outlines a mechanism for monitoring and penalizing short-collection or non-collection of margins by members from clients in commodity derivatives exchanges. It consolidates norms previously set by the Forward Markets Commission, detailing the types of margins involved and the timeline for collection. Members must collect initial margins upfront and have until T+2 days for other margins. Penalties are imposed for delays, with higher penalties for repeated defaults. Exchanges must report collection and shortfalls, and penalties are credited to the Investor Protection Fund. The circular is effective immediately to safeguard investor interests.
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