FCA fines London Metal Exchange
Andrew Mizner
,
London Metal Exchange has become the first UK registered exchange to be fined by the FCA following an investigation into 2022 control failures which exacerbated extreme market volatility.
The UK Financial Conduct Authority (FCA) has fined the London Metal Exchange (LME) GBP 9.2 million for a 2022 incident in which the exchange suspended trading and cancelled trades worth billions of pounds following an extreme spike in the price of nickel. It is the first time the FCA has taken action against
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Commodities FCA Financial Conduct Authority Jenner & Block London Metal Exchange Morgan Lewis Morgan Lewis & Bockius Nickel Nickel trading Pinsent Masons UK
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