Skip to main content


April 2, 2014

FCA steps up scrutiny of wholesale markets

“The UK’s financial watchdog said it would examine the steps investment banks are taking to prevent traders from manipulating key benchmarks as it intensifies scrutiny of wholesale markets.

“The move was announced in the Financial Conduct Authority’s business plan, published on Monday, in which it requested a boost to its budget from £445m to £452m.

“The regulator, which is involved in a cross-border effort to probe foreign exchange benchmark rigging, said it wanted to examine how firms ensure their traders’ activity is “consistent with our expectations of market conduct”.

“That includes measures to reduce the risk of traders “manipulating prices”. It will look at how banks manage conflicts of interest between their obligations to clients and their own positions.

“The FCA will also look at the effectiveness of the “Chinese walls” that govern flows of information within firms.”


Read full Financial Times article here.



For media inquiries, please contact us at or 202-618-6433.

Contact Us

For media inquiries, please contact or 202-618-6433.

To sign up for our email newsletter, please visit this page.

This field is for validation purposes and should be left unchanged.

Sign Up — Stay Informed With Our Monthly Newsletter

"* (Required)" indicates required fields

This field is for validation purposes and should be left unchanged.

For media inquiries,

please contact or 202-618-6433.


Help us fight for the public interest in our financial markets, protecting Main Street from Wall Street and avoiding another costly financial collapse and economic crisis, by making a donation today.

Donate Today