Revised Warehousing Norms in the Commodity Derivatives Market for Agricultural and Agri-processed Commodities Traded on the National Commodity Derivatives Exchanges

Revised Warehousing Norms in the Commodity Derivatives Market for Agricultural and Agri-processed Commodities Traded on the National Commodity Derivatives Exchanges https://www.taxtmi.com/circulars?id=57983 SEBI prescribes minimum exchange-level standards to ensure guarantee for settlement of trades including good delivery by accrediting WSPs, warehouses and assayers through transparent selection and renewal; imposing paid-up capital and net worth criteria, refundable security deposits and tiered Financial Security Deposits with prescribed asset forms and concentration limits; mandating insurance on replacement value; requiring SOPs, KYD, PAN disclosures, staff training and prohibition on trading by WSP management; and establishing periodic independent inspections, audit disclosure, cancellation and continuity procedures. en-us Tue, 27 Sep 2016 00:00:00 +0530 Tue, 04 Dec 2018 15:13:00 +0530 TaxTMI RSS Generator Revised Warehousing Norms in the Commodity Derivatives Market for Agricultural and Agri-processed Commodities Traded on the National Commodity Derivatives Exchanges https://www.taxtmi.com/circulars?id=57983 SEBI prescribes minimum exchange-level standards to ensure guarantee for settlement of trades including good delivery by accrediting WSPs, warehouses and assayers through transparent selection and renewal; imposing paid-up capital and net worth criteria, refundable security deposits and tiered Financial Security Deposits with prescribed asset forms and concentration limits; mandating insurance on replacement value; requiring SOPs, KYD, PAN disclosures, staff training and prohibition on trading by WSP management; and establishing periodic independent inspections, audit disclosure, cancellation and continuity procedures. Circulars SEBI Tue, 27 Sep 2016 00:00:00 +0530 https://www.taxtmi.com/circulars?id=57983