FMC to merge with SEBI
Q. How many director level officers of FMC will be absorbed by SEBI after the merger of the former with the capital regulator?- Published on 26 Sep 15a. 5
b. 6
c. 7
d. 8
ANSWER: 7
Following the merger with SEBI, FM’s 7 director level officers will be employed by the regulatory while 41 remaining employees will be included in the central government employee pool. Merger is FM with SEBI is aimed for on September 28. It will create a unified regulatory authority. From the 7, there are 2 directors, deputy directors and assistant directors and one is a joint director. Tenure of officers shall be co termed with tenure at FMC or extend for six months or till further office, whichever of these being the earliest. SEBI has also formed a Commodity Cell besides setting up 2 international department committees in the surveillance department and market intermediaries regulation and supervision department in a run up to the merger. Currently, there are 12 commodity exchanges which are recognised. 6 of these are non operation while of the operational exchanges, three are national and three are regional bourses.
