Managed Funds Association Head of Global Regulatory Affairs Jennifer Han issued the following statement in response to the report from the independent review of the London Metal Exchange’s handling of the nickel crisis in March 2022:

MFA issued a statement from Head of Global Regulatory Affairs Jennifer Han in response to the report from the independent review of LME's handling of the nickel crisis in March 2022. #MFAinEurope #LME #Nickel https://t.co/LRuSWjYDhv pic.twitter.com/17OOgWpsVG

— Managed Funds Association (@MFAupdates) January 10, 2023

“The independent review has confirmed our concerns that the LME lacked the systems and controls to manage through the March 2022 nickel crisis, but it is essential that a robust regulatory review addresses how LME failed in its regulatory function. LME failed to maintain an orderly market, manage conflicts of interest, and protect investors in the nickel market and must institute controls so market participants can engage in these markets with confidence.

Alternative asset managers rely on sound markets to deliver reliable returns for institutional investors such as pensions, especially during times of market volatility.”

Source: MFA