SEBI
released a circular on September 23, 2016 for the commodity derivatives
exchanges defining the regulatory provisions for brokers across equity and
commodity derivatives markets. This circular describes the regulatory
provisions which shall be applicable and which will stand repealed.
The
rules, directions, guidelines, instructions, circulars, or any like
instruments, made by the erstwhile Forward Markets Commission (FMC) or the
Central Government applicable to recognized associations under the Forward
Contracts (Regulation) Act, 1952 shall continue to remain in force for a period
of one year from the date on which the FCRA is repealed (September 29, 2015),
or till such time as notified by SEBI, whichever is earlier, as if the FCRA had
not been repealed.
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