FMC fixes March 31 for submission of PAN details

The Forward Market Commission (FMC) has warned commodity market members and clients that they will be debarred from trading on any exchange from April 1 if they fail to provide their permanent account number (PAN).

"The commodity market regulator had issued a circular in early November asking for PAN from all members and clients by scheduling the date of December 31. But, we are receiving excuses from members and clients regularly," an exchange official said.

The FMC has also asked for the certified photocopy of the document from clients at the time of registration with them in the "know - your - client" (KYC) document.