Sebi withdraws permanent recognition granted to ICEX

SEBI has withdrawn the recognition granted to the Indian Commodity Exchange Limited (ICEX).

The withdrawal of recognition follows an order passed by SEBI on May 10 after finding the bourse non-compliant on several grounds like net worth and infrastructural requirements. After this, the ICEX has been directed to transfer the money available in the Investor Protection Fund and Investor Services Fund of ICEX to Sebi’s Investor Protection and Education Fund.