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TMI BlogRegulatory Framework for Commodity Derivatives BrokersX X X X Extracts X X X X X X X X Extracts X X X X ..... od of one year from the date on which the FCRA is repealed (September 29, 2015), or till such time as notified by SEBI, whichever is earlier, as if the FCRA had not been repealed. 2. Erstwhile FMC issued various circulars/letters/ directions to exchanges dealing in commodity derivatives for compliance by their members from time to time. Consequent to merger of FMC with SEBI, it is important that regulatory provisions for brokers across equity and commodity derivatives markets be harmonized. Accordingly, regulatory provisions have been divided into three parts as described below. i. Part A contains details of FMC circulars which shall stand repealed and relevant SEBI circulars which shall be applicable. ii. Part B contains details o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... a) No.IRD/Div/(1)FMCR/1/2005 dated Feb 14, 2006 b) Div. III/I/(53)/06/PAN No. dated Nov 28, 2006 c) 9/3/2008-MKT-II dated Jan 12, 2009 d) No. 18/1/2007/MKT-III dated Feb 11, 2008 e) No. 9/1/2009-MKT-I dated Dec 07, 2009 f) No. 9/12009-MKT-I dated Aug 10, 2010 a) Clauses 1 to 11 and Clauses 14 to 19 of Annexure A to MIRSD/ SE /Cir-19/2009 dated Dec 03, 2009 b) CIR/MIRSD/01 /2013 dated Jan 04, 2013 c) CIR/MIRSD/64/2016 dated Jul 12, 2016 For new client accounts. iv. In-Person Verification Part C of FMC/4/2015/C/0015No. FMC/COMPL/IV/KRA-05/11/14 dated Mar 13, 2015 a) Para 3 of MIRSD/Cir- 26 /2011 Dec 23, 20 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... b) FMC/Complt/Circular dated Jun 04, 2012 c) No:IR (2)/5/2012/SMS-Email dated Dec 07,2012 d) No.IR(2)/5/2012/SMS-Email dated Jan 21, 2013 e) No.IR(2)/5/2012/SMS/Email dated Mar 01, 2013 f) No.IR(2)/5/2012/SMS/Email dated Mar 06, 2013 g) No.IR(2)/5/2012/SMS/Email dated May 15, 2013 h) No.IR(2)/5/2012/SMS/E-mail dated Jun 21, 2013 CIR/MIRSD/15/2011 dated Aug 02, 2011 x. Contract Note a) No. 07/2008/COMP/LAD-ENF/AD(SN)/6609 dated Oct 27, 2009 b) FMC/COMPL/IV/2010/03/05/00011 dated Apr 19, 2011 c) Div.III/I/89/07 dated Mar 13, 2014 d) Div.III/I/89/07 dated Dec 24, 2014 a) SMDRP/Policy/Cir-56/2000 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ion a) No.IRD-Div-III/1/143/10-MR dated Aug 14, 2010 b) Div:III/I/120/MR-2011/2 dated Apr 07, 2011 c) FMC/6/2011/C/0018 No. Div.III/I/68/MR/General dated Sep 22, 2011 d) FMC/6/2011/C/0019 No. Div. III/I/157/10-MRDated Sep 27, 2011 e) FMC/4/2012/C/41 No. Div. III/I/157/10-MR dated Apr 04, 2012 f) Div. III/I/10/MR dated Apr 30, 2015 a) MIRSD/MSS/Cir- 30/ 13289/03 dated Jul 09, 2003 b) CIR/MIRSD/2/2011 dated Jun 3, 2011 c) CIR/MIRSD/14/2011 dated Aug 02, 2011 xvi. Procedure for surrender of membership a) FMC/6/2011/C/0018 No. Div.III/I/68/MR/General dated Sep 22, 2011 b) FMC/1/2014/C/146 dated Dec 31, 2014 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... a) No.-FMC/4/2011/G/30 Ref. No.: Div. III/I/89/07 dated Dec 16, 2011* b) Div.III/I/89/07 dated Aug 23, 2013 c) F.No.FMC/COMPL/2013/10/30-FSLRC/FSDC dated Mar 28, 2014 d) Div.III/2/89/VOL IV dated Apr 23, 2014 e) No. FMC/COMPL/IV/KRA-05/11/14 dated Feb 26, 2015 ii. Customer Protection such as keeping evidence of client placing order No.FMC/Comp/VI/2009/04/06/114/5787 dated Sep 16, 2009 iii. Nomenclature of Stock brokers a) 4/5/2005- M S/MCX/Unit-II dated Apr 25, 2006 b) No.IRD-DIV-III/I/FCR-I/2009 dated Dec 21, 2009 c) No. DIV-III/I/122/10/MR dated Jun 25, 2010 d ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... iv./III/(1)/FMCR/1/2005 dated Oct 28, 2005 iii. Submission of networth certificate from the members No. Div-III/I/122/10/MR dated Nov 22, 2010 6. All commodity derivatives exchanges shall continue to levy penalties they are currently levying and any revision thereof shall be decided in consultation with SEBI. Accordingly, FMC circulars dealing with penalties including Uniform Penalty Circular dated Mar 05, 2010 shall stand repealed. 7. The Stock Exchanges, who regulate and control buying, selling and dealing in commodity derivatives are directed to: a. Bring the provisions of this circular to the notice of the said stock brokers and also disseminate thesame ..... X X X X Extracts X X X X X X X X Extracts X X X X
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