Finance Min seeks public comments on draft rules to regulate intermediaries

New Delhi, Aug 20 (KNN) In order to strengthen the framework to effectively regulate the intermediaries of the commodity derivative markets, the Finance Ministry has sought feedback on the draft rules.

“The Ministry of Finance is in the process of strengthening the regulatory framework of the commodity derivative markets for some time. As part of this process, greater empowerment of Forward Markets Commission (FMC), the market regulator is also being done,” Ministry of Finance said in a release today.

Accordingly, a need was felt to strengthen the regulatory framework by empowering the FMC to effectively regulate the intermediaries of the commodity derivative markets. To enable this, it has been decided to notify appropriate Rules by the Central Government, it added.

As a transparency enhancing mechanism and therefore, to obtain public comments, a draft of the said Rules is hosted on the website of the Ministry of Finance at http://finmin.nic.in, it said.

In this context, the ministry has called for feedback and comments from the stakeholders within 21 days. (KNN/SD)