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FCA proposes to accept $1.3m plus commitments from traders under investigation

Montage of the FCA logo
The watchdog believes the commitments offered by the traders exceed any potential financial penalty. GRIP Montage: FCA

Hameed Shuja

3 min read
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The regulator’s investigation did not reach a clear conclusion on whether competition law was infringed or not, and the traders themselves have not made any admissions.

The UK’s financial watchdog has proposed to accept a £1m ($1.3m) charitable payment plus other binding commitments from a group of commodity traders who are under investigation for potentially infringing competition laws.

The proposal comes despite the FCA saying it is concerned about the possible sharing of sensitive information by

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