FMC Reviews Gold ETFs Jurisdiction
India’s Forward Markets Commission has raised concerns over the Securities and Exchange Board’s jurisdiction of gold ETFs.
India’s Forward Markets Commission (FMC) has raised concerns over the Securities and Exchange Board’s (SEBI) jurisdiction of gold ETFs, IFA Online reports. The move comes as the National Stock Exchange of India (NSE) was preparing to launch futures and options based on Benchmark Asset Management’s Gold BeES. Due to the concerns, NSE will now postpone the listing of any derivatives based on gold ETFs. The FMC, which already regulates gold futures trading on the commodity exchange, believes that all commodity-based ETFs come under its remit.
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