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Mumbai: Multi Commodity Exchange Clearing Corporation (MXCCL) has settled a case of securities law violation with market regulator Sebi by paying ₹2.7 crore as settlement amount. The regulator said MXCCL had filed a suo moto application with it proposing to settle a legal action that could be initiated against it for violation of risk management norms.
During Sebi’s annual inspection conducted for the period from December 01, 2022 to October 31, 2023, it had observed that the clearing house had blocked highest margin shortage instead of cumulative margin shortage in the past 30 days from the deposits of the clearing member for the purpose of calculation of margin shortfall block amount.
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https://economictimes.indiatimes.com/markets/commodities/news/mxccl-settles-case-of-securities-law-violation-with-sebi/articleshow/119889232.cms
