FSA agrees operating arrangements with OFEX
FSA/PN/170/2001
17/12/2001
17/12/2001
The FSA today signed operating arrangements with OFEX to ensure that market abuse will be tackled effectively. This follows from OFEXs inclusion from 5 December as a prescribed market for the purposes of the regime.
Responsibility for cases of market abuse is allocated between OFEX and the FSA under the terms of the arrangements, which are in line with those signed last month with the Recognised Investment Exchanges.
Welcoming the arrangements, Gay Huey-Evans, the FSAs Director of Market and Exchanges Division said:
"The overall objective of the market abuse regime is to maintain and enhance confidence in the UKs financial markets as clean, fair and efficient places in which to do business. These arrangements give us a framework which will enable the FSA and OFEX to work towards achieving that objective.
Notes for editors
- The FSA regulates the financial services industry and has four objectives under the Financial Services and Markets Act 2000: maintaining market confidence; promoting public understanding of the financial system; the protection of consumers; and fighting financial crime.
- The FSA aims to maintain efficient, orderly and clean financial markets and help retail consumers achieve a fair deal.
- The FSA has also agreed operating arrangements with the London Stock Exchange, virt-x, Coredeal, LIFFE, the International Petroleum Exchange, the London Metal Exchange, OM London Exchange and the Panel on Takeovers and Mergers.