FCA Tells Traders To Ignore Position Limits For Derivatives
Law360, London (July 9, 2021, 1:01 PM BST) -- The U.K.'s financial services watchdog said Friday it will continue to decline to take action against traders who exceed position limits for commodity derivatives, as Britain looks to distance itself from the Europe Union's securities rules.
The Financial Conduct Authority said it will not take supervisory or enforcement action against traders who exceed position limits for commodity derivatives if the position is held by a liquidity provider on a trading venue. Commodity derivatives are financial instruments that get their value from an underlying commodity, such as grains, metals or agricultural products.
The City watchdog first announced the exemption in December to...
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