Deciding two connected writ petitions arising from a common Industrial Tribunal Award, the Delhi High Court set aside the Tribunal's direction granting hotel workmen a further…
Labour Laws
06/09/20264 min read
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Contribution to Core Settlement Guarantee Fund and Default Waterfall for Limited Purpose Clearing Corporation (PLCC)
SEBI & SCRA
SEBI's Master Circular for Stock Exchanges and Clearing Corporations, dated October 16, 2023, outlines guidelines for contributions to the Core Settlement Guarantee Fund (SGF) and the Default Waterfall of Limited Purpose Clearing Corporation (LPCC).
Following consultations, SEBI notified the SECC Amendment Regulations, 2023, enabling direct participation by participants in LPCC for tri-party repo transactions. Contributions to LPCC's Core SGF by participants are risk-based and must cover any deficit after contributions by issuers and clearing members.
Timelines for replenishing Core SGF post-usage are restricted to once every 30 calendar days per default period. The LPCC's default waterfall prioritizes contributions, insurance, issuer contributions, and LPCC resources, ensuring orderly settlement and minimizing investor risk.
