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Fixing commodity trading: Amend and pass new regulatory framework

Posted on 18 September 2013

The transfer of administrative control of the regulator for commodity trading, the Forward Markets Commission (FMC), from the consumer affairs ministry to the finance ministry seems a typical government response to a crisis like the one besetting the National Spot Exchange Ltd (NSEL).
But it is a sensible step that should have been taken much earlier, although it will not suffice to regulate exchange-based commodity trading - be it spot trading or forward trading. That requires a strong and autonomous regulator with sufficient expertise and infrastructure, as well as the authority to take expeditious action and effectively enforce its orders. The FMC currently lacks all these………………………………………..Full Article: Source


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VRS - who has written 38515 posts on Opalesque Commodities Briefing.


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