Thursday, September 21, 2006

Britain to legislate on LSE regulation


Britain will introduce legislation to secure the “light touch” regulation of the London Stock Exchange in the event of a takeover, Ed Balls, economic secretary to the Treasury, said on Wednesday.

Mr Balls said this would give the Financial Services Authority, Britain’s main regulator, the power to veto rule changes proposed by exchanges that would be “disproportionate in their impact on the pivotal economic role that exchanges play in the UK and EU economies”.

See full Article.