SEBI Updates SOP for MIIs: New Clauses for Identifying Technical Glitches and Enforcing Financial Penalties.

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....This circular serves as a corrigendum to the previous circular SEBI/HO/MRD/TPD-1/P/CIR/2024/124 dated September 20, 2024, regarding the Standard Operating Procedure for payment of "Financial Disincentives" by Market Infrastructure Institutions (MIIs) due to technical glitches. It provides references to relevant sections of the Master Circular for Commodity Derivatives Segment dated August 04, 2023, which were not explicitly mentioned in the earlier circular. The corrigendum outlines the specific paragraphs and annexures from the Master Circular that correspond to the provisions outlined in the September 20 circular. Additionally, it inserts new clauses 2.5 and 2.6 in Annexure-ZE of the Master Circular, granting SEBI the authority to identif.........