London Metal Exchange fined £9.2m for role in nickel market chaos
Exchange was ‘unprepared’ for the risks that emerged when Russia’s invasion of Ukraine caused a price riseBusiness live latest updatesThe London Metal Exchange has been fined £9.2m by the City watchdog for mishandling the nickel market chaos in 2022, marking the regulator’s first penalty against a top investment exchange.The Financial Conduct Authority investigation showed that the LME was unprepared for the “serious risks” that emerged in March that year, when Russia’s invasion of Ukraine caused a surge in the price of nickel. Continue reading...
Exchange was ‘unprepared’ for the risks that emerged when Russia’s invasion of Ukraine caused a price rise
The London Metal Exchange has been fined £9.2m by the City watchdog for mishandling the nickel market chaos in 2022, marking the regulator’s first penalty against a top investment exchange.
The Financial Conduct Authority investigation showed that the LME was unprepared for the “serious risks” that emerged in March that year, when Russia’s invasion of Ukraine caused a surge in the price of nickel. Continue reading...
