Department of Economic Affairs to regulate Forward Markets Commission

The government has brought the commodities market regulator, the Forward Markets Commission (FMC), under the purview of the Department of Economic Affairs (DEA) in the finance ministry. Officials said the order issued by the ministry of finance said all matters related to forward markets and FMC would henceforth be handled by DEA.

The proposal to move FMC out from the consumer affairs department was mooted after the NSEL payment default fiasco.