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Corporate Laws Central Ministry of Finance Securities and Exchange Board of India Act, 1992

Principles of Financial Market Infrastructures (PFMIs)

19-Dec-2023 | SEBI/HO/MRD/MRD-PoD-3/P/CIR/2023/190

SEBI has issued Principles of Financial Market Infrastructures (PFMIs) which effective from the quarter end December, 2023 rescinding the Circular No. CIR/MRD/DRMNP/26/2013 dated September 04, 2013 and Circular No. SEBI/HO/CDMRD/DMP/CIR/P/2016/137 dated December 16, 2016. By virtue of this circular Depositories and clearing corporations (CCs) will now have to comply with the Principles of Financial Market Infrastructures (PFMIs), which are global standards prescribed to ensure that the infrastructures supporting the global financial markets are robust and resilient, according to a circular by the market regulator SEBI. PFMIs have been prescribed by international bodies like the Committee on Payment and Settlement Systems (CPSS) and the International Organization of Securities Commissions (IOSCO). Depositories and CCs will also have to carry out self-assessments on their compliance with these standards and make disclosures periodically on their websites, according to the latest circular issued by the market regulator.

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