Broker Fines for Market Abuse
April 27 @ 4:00 pm - 5:30 pm
Thursday 27th April 2023 at 4 PM, at the Eight Club Bank.
How Regulators are targeting Brokers, and what Lessons can we learn?
In the last four years, the FCA has levied nearly £1.4 billion in fines. Trading venues, such as ICE and LME, have also been active in the enforcement space. A number of these fines have been against broker firms, for systems and controls failings, including in particular those relating to market abuse. An investigation from a regulator such as the FCA or a trading venue can be extremely time-consuming, expensive, and involve negative PR. So what lessons can we learn from these enforcement actions? How can we make sure it doesn’t happen to us? This session will be an interactive, round-table discussion, conducted under Chatham House rules. It will have a focus on commodities but will be relevant for all broker firms. It will be presented by Tom Hine, a partner at Acuity Law, consultant at Cambitas Limited, and former General Counsel & Head of Enforcement at the London Metal Exchange.
This is an in-person round-table held at the Eight Club Bank. There will be brief networking drinks after the event.