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UK's Financial Conduct Authority Comment On Outcome Of LSE Extraordinary General Meeting

Date 19/12/2017

Commenting on the outcome of the London Stock Exchange Group's Extraordinary General Meeting, Andrew Bailey, Chief Executive of the Financial Conduct Authority said:

The FCA has a statutory objective to ensure the integrity of the markets it regulates. Todays vote should now lead to an orderly process of succession of the CEO and then the Chair of the LSE as set out by the Board. It is important that everyone supports and contributes positively to that process.

Background

  1. On 1 April 2013 the Financial Conduct Authority (FCA) became responsible for the conduct supervision of all regulated financial firms and the prudential supervision of those not supervised by the Prudential Regulation Authority (PRA).
  2. The FCA has an overarching strategic objective of ensuring the relevant markets function well. To support this it has three operational objectives: to secure an appropriate degree of protection for consumers; to protect and enhance the integrity of the UK financial system; and to promote effective competition in the interests of consumers.
  3. Find out moreinformation about the FCA, as well as how it is different to the PRA.