fund-based pms – fmc clarification

Commodity market regulator Forward Market Commission (FMC) has clarified that it has banned only Fund-Based Portfolio Management Services (PMS) in commodity markets and not advisory services. According to FMC-Research based technical analysis, daily newsletters indicating price trends, predictions and recommendations, commodity-specific news and analysis are not covered under PMS advisory services and can be undertaken. Transactions resulting in fund-based portfolio management services are not permitted.