A tough stance by the incoming Financial Conduct Authority (FCA) to act "early and decisively" will bring integrity back to financial markets, chief executive designate Martin Wheatley has pledged.
In a speech at the Markets and Client Assets Conference, Wheatley said integrity "is what the FCA is going to be about". In addition to preventing market manipulation and ensuring the stability of market infrastructure, the FCA will put more emphasis on the fair treatment of counterparties and ensuring a level playing field for market participants, he said. The FCA will also increase the intensity of its supervision of sponsors - who facilitate listing on regulated markets - and is proposing new rules to ensure that the growth of innovative corporate governance structures avoids under...
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