Financial Conduct Authority is consulting on extending its powers to fine and ban individuals working in the City of London in in wake of Libor rigging scandalA original regulatory regime in the City of London intended to hold individuals to account for their actions could be extended to traders who had not expected to be covered by the rules.
The Financial Conduct Authority launched a consultation on Tuesday that could result in managers working in areas such as algorithmic trading and high-frequency trading being included in the regime which is being introduced in the wake of the Libor rigging scandal.
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Source: theguardian.com