Photo by: Bloomberg
The Financial Conduct Authority (FCA) and Bank of England are undertaking reviews into the governance, market oversight and risk management of the London Metal Exchange (LME), following recent turmoil that paralysed the nickel market. Bloomberg reports that the FCA will review the suspension and resumption of the nickel market while the central bank will review the operations of LME’s clearing house. The LME said it welcomed the regulatory review and announced that it would appoint an independent party to conduct its own review into events in the nickel market that could lead to disciplinary action. Photograph: Bloomberg