Financial Conduct Authority

House of Lords written question – answered at on 23 September 2013.

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Photo of Lord Myners Lord Myners Labour

To ask Her Majesty’s Government what is their assessment of the technical competence of the Financial Conduct Authority in understanding algorithmic strategies.

Photo of Lord Deighton Lord Deighton The Commercial Secretary to the Treasury

The Financial Conduct Authority has been at the forefront of the international regulatory debate on algorithmic trading. As outlined in written evidence to the Parliamentary Commission on Banking Standards (December 2012), the FCA has undertaken extensive work on highly automated trading firms in recent years. The FCA has also been actively involved in the development of UK policy in relation to the new regulatory framework for algorithmic trading which forms part of the revision of the Markets in Financial Instruments Directive, currently under negotiation.

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