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London Metal Exchange fined GBP9 million over 2022 nickel crisis failings

By Phoebe Seers ( March 20, 2025, 10:59 GMT | Insight) -- The London Metal Exchange has been fined 9.2 million pounds by the UK financial watchdog over failures that led to it suspending its nickel market and cancelling trades following a massive spike in prices in March 2022. In its first enforcement action against a regulated investment exchange, the Financial Conduct Authority said the LME should have been better prepared to address the serious risks posed by extreme volatility. The London Metal Exchange has been fined 9.2 million pounds ($12 million) by the UK financial watchdog over failures that led to it suspending its nickel market and cancelling trades following a massive spike in prices in March 2022....

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