Nickel: Commodity Markets

(asked on 12th February 2020) - View Source

Question to the HM Treasury:

To ask Her Majesty's Government whether they, or the Financial Conduct Authority, intend to investigate the nickel market on the London Metal Exchange for (1) possible market manipulation, or (2) failure to comply with market disclosure requirements.


Answered by
 Portrait
Lord Agnew of Oulton
This question was answered on 25th February 2020
I am unable to go into detail regarding individual cases. Investigations into alleged market abuse are the purview of the FCA, who I understand are aware of these allegations.

The Government takes any attempt at market abuse extremely seriously and is committed to ensuring that financial markets are sound and transparent. The Market Abuse Regulation (MAR) strengthens the previous UK market abuse framework by extending its scope to new markets, new platforms and new behaviours. It contains prohibitions of insider dealing, unlawful disclosure of inside information and market manipulation, provisions to prevent and detect these acts, and powers to take enforcement action against those who do. I am confident that under MAR we have robust systems and controls in place to preserve market integrity and protect investors.
Reticulating Splines