LME Control by China Unlikely to Be an Issue, Holman Lawyer Says
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The London Metal Exchange’s takeover by Hong Kong Exchanges & Clearing Ltd. is unlikely to raise issues about China’s control of the exchange, said Robert Finney, partner at Holman Fenwick Willan LLP in London who specializes in financial services and regulation. He made the following comments in an e-mail yesterday.
“Although the merger must be approved by the Financial Services Authority as the LME’s regulator, that should be a swift process. The FSA has only 3 months to object following the receipt of formal notice from Hong Kong Exchanges of its intention to acquire control, and I am sure that Hong Kong Exchanges and other potential acquirers were discussed with the FSA.