Brokers of commodity exchanges are set to start their registration with the new regulator the Securities and Exchange Board of India (Sebi) after September 28, the effective date of merger of the Forward Markets Commission (FMC) with Sebi. With a Gazette notification on August 28, the Ministry of Finance repealed the Forward Contract Regulation Act (FCRA) 1952 which set up the FMC for regulating commodity exchanges. Effective September 29, therefore, all commodity futures exchanges and their members would be regulated directly by Sebi. ALSO READ: Sebi seeks services of 22 FMC officials post merger ALSO READ: Sebi notifies revised norms ahead of FMC merger ALSO READ: As Sebi-FMC merger looms, bourse-listing system amiss "Post September 28. we would initiate registration with Sebi," said a senior executive of the industry who is actively involved in the merger of FMC with SEBI.
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