NEW DELHI, June 1 -- The Central government will press for passage of the new Securities Market Code, currently being reviewed by the Parliamentary Standing Committee on Finance, in the monsoon session of Parliament, aiming for a new regulatory architecture for the capital markets, two people informed about discussions in the government said.

The standing committee led by Bhartruhari Mahtab, which is expected to table its report early in the monsoon session, has held discussions on the code with industry bodies and experts and is scheduled to discuss it clause by clause with the finance ministry on 12 June before finalizing its report, according to information available from the committee.

Parliament is expected to convene for the monso...