FCA on oversight of member controls by RIEs and MTFs

Wow ; despite consatant complaining to FSA that exchanges have no interest on halting market abuse in any form as will halt volume and profit ;this new regulator decides otherwise !

    Perhaps they might take some advice and ask traders in the market place ; not market makers or others favoured by exchanges ; about  washing ;layering ;crossing and flipping ; which now accounts for over 30% of the volume .

 As independent traders we have been asking for regulators to look at current trading screens as abuse is that obvious ; rather than ring up exchanges . Sadly I cannot see any swift action taken  by FCA ; on the grounds that I waited 2 years for a reply on libor abuse by regulators .

Perhaps if FCA inspected the exchanges and saw their market supervision dept watching television rather than the markets might aid our cause !

Martin Wheatley had a very succesful career at the London Stock Exchange he is also well versed in City culture and understands better than most regulators the various ways that Stock exchanges and other execution facilities can be manipulated or supposedly innocently used. I have known him for years and i think we can expect a new broom with strong bristles