A smooth amalgamation of capital market regulator Securities and Exchange Board of India (Sebi) and commodities market watchdog Forward Markets Commission (FMC) is what the market needs and the finance ministry desires. Alas, desires seldom translate into reality. In this case, the employees of the two regulators are finding it difficult to get along. Sebi employees don't want to accommodate the FMC workforce; on their part, FMC officers don't consider it lucrative to join Sebi despite the provisions in the finance Bill. If it is any consolation for corporations in the throes of a difficult merger, even regulators are sailing in the same boat.
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