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Reduction of banks in London gold and silver fixes worries UK regulator
UK Financial Conduct Authority Could Intervene If Fewer Set Commodity Prices
By Clara Denina and Susan Thomas
Reuters
Tuesday, April 29, 2014
LONDON -- Britain's financial watchdog could intervene if there are too few participants to set commodity benchmarks including gold and silver, a senior official at the Financial Conduct Authority (FCA) said.
U.S. investors and traders have filed almost 20 antitrust lawsuits against the five banks involved in the London gold fix, accusing them of colluding to manipulate the bullion price.
One of them, Deutsche Bank, resigned from the gold and silver fix tables on Tuesday, just three months after putting its seat up for sale, after failing to find a buyer.
Sources told Reuters the lawsuits had deterred potential buyers. ...
... For the full story:
http://uk.reuters.com/article/2014/04/29/regulations-summit-gold-idUKL6N...
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