Clearing corporations will now have to provide elaborate monthly reports to Sebi with details on settlements, actions taken against trading members as well as information about corporate governance aspects of the corporations themselves.
Sebi's new disclosure requirement for clearing corporations -- which handle settlement of trades in stock market -- would be effective from this month, the market regulator said in a circular today.
In a move that would ensure more transparency in the functioning of clearing corporations, they would now also be required to disclose details about the composition of their governing board and important decisions taken, among others.
In a move that would ensure more transparency in the functioning of clearing corporations, they would now also be required to disclose details about the composition of their governing board and important decisions taken, among others.
Further, clearing corporations will have to provide details about their latest shareholding pattern, networth and status pertaining to implementation of directions issued by Sebi from time to time.
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