Office Of Fair Trading Sanctioned For Trading Curbs

Law360, New York (September 8, 2006, 12:00 AM EDT) -- A move by Britain’s Office of Fair Trading to prohibit the London Metal Exchange from extending trading hours has landed the competition watchdog in hot water.

The Competition Appeals Tribunal has chastised the regulator for trying to curb trading, and has also ordered it to pay any costs LME incurred as a result of the action.

“We have come to the conclusion that the OFT's investigative process was superficial and flawed and the IMD consequently ill-founded,” CAT said in a statement.

CAT began looking into the...
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