government issued a notification on August 28 to merge commodities market regulator FMC with Sebi
Finance Minister Arun Jaitley
New Delhi: The finance ministry said on Wednesday that the regulation of commodity derivatives market will shift to Sebi from September 28, 2015. The government issued a notification on August 28 to merge commodities market regulator Forward Markets Commission (FMC) with Sebi.
“As a result, Forward Contracts Regulation Act (FCRA) 1952 gets repealed and the regulation of commodity derivatives market will shift to Securities and Exchange Board of India (Sebi) under the Securities Contracts Regulation Act (SCRA), 1956, with effect from 28th September, 2015,” said a statement by the finance ministry.
In the Union Budget, finance minister Arun Jaitley had proposed to merge the FMC with markets regulator to strengthen the regulation of commodity forward markets.
( Source : deccan chronicle )
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