Regulator rejects appointment of MCX MD

The Forward Markets Commission (FMC) has rejected the appointment of Balasubramaniam Venkataramani as the managing director of Multi-Commodity Exchange (MCX), the company said on Friday, reports fe Bureau in New Delhi. It did not ascribe any reason for such a move by the FMC, although sources said the regulator was not happy with the compliance of norms while appointing the MD. The exchange had announced Venkataramani’s appointment in February, subject to the regulator’s approval.