Financial Market Infrastructures Must Periodically Self-assess Against PFMIs & Disclose Results on Their Websites

  • News|Blog|Company Law|
  • < 1 minute
  • By Taxmann
  • |
  • Last Updated on 21 December, 2023

Recent Posts

News, Blog, Income Tax

No TDS on Payments to Credit Guarantee Fund Trust for MSEs Referred in Section 10(46B) | CBDT

Blog

Assessee to Pursue Pending Proceedings Before Appellate Authority Instead of Filing Writ Petition | HC

Latest from Taxmann

Principles of Financial Market Infrastructures; PFMIs

Circular No. SEBI/HO/MRD/MRD-PoD-3/P/CIR/2023/190, Dated 19.12.2023

Earlier, the issue of assessment of Principles of Financial Market Infrastructures (PFMIs) by SEBI-regulated FMIs was deliberated in the Secondary Market Advisory Committee of SEBI (SMAC). Based on the recommendations, SEBI has decided that FMIs shall carry out self-assessment on a periodic basis against the PFMIs and disclose the same on their websites. For this purpose, the 24 principles for FMIs have been classified as “quantitative” and “qualitative”.

The periodicity of self-assessment and disclosure by the FMIs for Quantitative shall be Quarterly (within 30 days from the end of the quarter – June, September, December and March) and for Qualitative, it shall be Annually (within 30 days from the end of the financial year).

Also, FMIs shall be monitored and assessed against the PFMIs on annual basis by the Regulatory Oversight Committee (ROC) of the FMI and the ROC shall submit a report to the governing board of the FMI and SEBI within 60 days from the end of the financial year.

The provisions of this Circular shall come into force from the quarter end December, 2023.

Click Here To Read The Full Circular

Disclaimer: The content/information published on the website is only for general information of the user and shall not be construed as legal advice. While the Taxmann has exercised reasonable efforts to ensure the veracity of information/content published, Taxmann shall be under no liability in any manner whatsoever for incorrect information, if any.

Leave a Reply

Your email address will not be published. Required fields are marked *

«
»

Everything on Tax and Corporate Laws of India

To subscribe to our weekly newsletter please log in/register on Taxmann.com

Author: Taxmann

Taxmann Publications has a dedicated in-house Research & Editorial Team. This team consists of a team of Chartered Accountants, Company Secretaries, and Lawyers. This team works under the guidance and supervision of editor-in-chief Mr Rakesh Bhargava.

The Research and Editorial Team is responsible for developing reliable and accurate content for the readers. The team follows the six-sigma approach to achieve the benchmark of zero error in its publications and research platforms. The team ensures that the following publication guidelines are thoroughly followed while developing the content:

  • The statutory material is obtained only from the authorized and reliable sources
  • All the latest developments in the judicial and legislative fields are covered
  • Prepare the analytical write-ups on current, controversial, and important issues to help the readers to understand the concept and its implications
  • Every content published by Taxmann is complete, accurate and lucid
  • All evidence-based statements are supported with proper reference to Section, Circular No., Notification No. or citations
  • The golden rules of grammar, style and consistency are thoroughly followed
  • Font and size that's easy to read and remain consistent across all imprint and digital publications are applied