UK financial market has never been ‘cleaner’, says FCA official
The “cleanliness” of the UK financial market has improved as a result of increased enforcement and new regulation, according to a senior official from the Financial Conduct Authority.
“The reduction since 2008 to 2018, from 30% down to 10%, in the case of the MC [market cleanliness] metric, is a significantly positive movement,” said Mark Steward, executive director of enforcement and market oversight.
The FCA has traditionally used the market cleanliness metric to act as a proxy for
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