The Financial Conduct Authority and Bank of England intend to review the London Metal Exchange’s approach to suspension and resumption of nickel trading following the developments in early March.
The FCA and the Bank said the reviews, which will happen after "a period of stability", will help to determine what lessons could be learned from the situation and that they intend to appoint "skilled persons to report on the matter". "The FCA and the Bank will consider these reports in determining whether further action should be taken and will announce next steps in due course," a joint statement said. In the meantime, the LME has agreed to appoint additional independent directors and is reviewing the "best way to achieve this in the context of the skills and composition of its boar...
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