The BCC Broadcast Safe is the best way to ensure that all of your projects are color and luma safe for delivery to any broadcast market.
Simply apply the filter at the top level of your sequence or comp, select the preset that corresponds to the broadcast standard that you require and render.
The advantage of this filter over other solutions that may come standard with your NLE or compositor is that it utilizes a soft knee approach to maintaining safe color and luma levels and by default does not hard clip the output. This allows you to avoid crushed highlights in the corrected output.
The included custom option opens up all of the controls for you to create your own customized presets.
See more at the Broadcast Safe page.