September 2011

LSEG Response to HM Treasury White Paper “A new approach to financial regulation: the blueprint for reform”

The London Stock Exchange Group has made a full response to the Government’s White Paper on reform of the UK’s financial regulatory structure.

Our response is based on three guiding principles: (1) the importance of the UK’s international competitiveness, (2) the need for regulatory proportionality and (3) the importance of effective interaction with Europe. With these principles in mind, we make the following points:

• The regulatory principle to have regard for the international competitiveness of the UK should be retained;
• The regulatory burden on regulated firms must be proportionate and fair;
• The new regulatory bodies should follow the principles of the UK Corporate Governance Code;
• Coordination between the UK’s regulatory bodies is crucial to ensure that the UK has a strong voice in the EU/ESMA; and
• Given the importance of the Recognised Bodies in providing fair and orderly markets for trading, any new powers proposed under Part XVIII must be exercised fairly and transparently.

LSEG Response to Government White Paper on financial regulation(file pdf - 76 KB)