Enhancing the Power of Forward Markets Commission (FMC)

The Government has issued draft rules to give the commodity markets regulator Forward Markets Commission more powers to effectively regulate the intermediaries of the commodity derivatives markets. The Forward Contracts (Regulation) (intermediaries) Draft Rules, 2014 has been prepared and was placed in public domain for feedback from public and all stakeholders. The Draft Rules provide, inter-alia for registration of intermediaries, obligations and responsibilities and procedure for inspection and disciplinary actions against intermediaries of the commodity derivatives market.