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of <h1>SEBI Prohibits Portfolio Management Services in Commodity Derivatives Market; Circular Effective from September 29, 2016.</h1> The Securities and Exchange Board of India (SEBI) has issued a circular stating that Portfolio Management Services (PMS) will not be permitted in the Commodity Derivatives Market. This decision continues the directives previously issued by the Forward Markets Commission (FMC), which were in place before the repeal of the Forward Contracts Regulation Act (FCRA). The circular, effective from September 29, 2016, supersedes earlier FMC directives on PMS. SEBI's action is aimed at protecting investors and regulating the securities market. Commodity Derivatives Exchanges are instructed to inform their members and update their websites accordingly.
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