Skip to Primary Navigation

Skip to main content

“Total disarray” at the LME leads to FCA fine

General view of the London financial district skyline at night from the River Thames.
Photo: AaronP/Bauer-Griffin/GC Images/Getty Images
Thomas Hyrkiel profile image

Thomas Hyrkiel

4 min read

Systems and controls in place at the exchange were not adequate to deal with severe market stress.

The London Metal Exchange has been fined £9.2m ($11.91m) after a widely-publicised incident in March 2022 led to an eight-day suspension of the nickel market and the cancellation of all trades that took place on March 8, 2022.

The fine has been imposed for a failure to ensure the implementation of adequate systems

, , , , , ,

Get full access, free for a month

This is a Premium article. Start your 28-day free trial to continue reading and access all content on GRIP – no payment details required.

Start free trial Sign in

What’s included:

  • Every new article, plus our 5,000+ archive
  • Daily regulatory insight and guidance
  • Exclusive interviews and in-depth analysis
  • Coverage of industry-leading events and conferences
  • All podcasts and videos, featuring industry experts
  • The full set of Rules Navigator tools
  • An ad-free experience