01 · In plain English
What happened.
The FCA fined the London Metal Exchange £9,245,900 for breaches of REC 2.5.1 (para 3(1) and 3(2)(h)) and MiFID RTS 7 (Article 18(3) and (4)). Broadly, the FCA found the LME failed to have in place and operate adequate arrangements, systems and controls a recognised body must have to prevent or address disorderly trading and to apply suspension/removal safeguards. The penalty is recorded as 'after settlement' on the FCA register (the sanction was agreed with the regulator); the FCA final notice sets out the factual and temporal detail of the breaches.
Summarised from the FCA's notice and press reports. The FCA's own text and documents below are the authoritative record.
02 · Enforcement details
What the FCA register says.
LME fined £9,245,900 after settlement for breach of REC 2.5.1 para 3(1) and 3(2)(h) and MiFID RTS 7, Article 18(3) and (4)
03 · Firm details
Firm on the FCA register.
- Firm name
- The London Metal Exchange
- Firm reference number
- 207387
- Register status
- Recognised
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