New Delhi : The government notified the merger of commodities market regulator Forward Markets Commission (FMC) with Securities and Exchange Board of India with effect from September 28. “Forward Contracts Regulation Act (FCRA) 1952 gets repealed and Regulation of Commodity Derivatives Market will shift to Securities and Exchange Board of India (Sebi) under Securities Contracts Regulation Act (SCRA) 1956 with effect from 28th September, 2015,” the Finance Ministry said in a statement.
A unified regulator for commodities and capital markets will help streamline monitoring of commodity futures trading and curb wild speculations. In the wake of a Rs 5,500-crore payment crisis at the National Spot Exchange Ltd, FMC was brought under Finance Ministry in 2013.
