August 22, 2019 / 8:22 AM / 4 months ago

LME imposes penalty of 210,000 pounds on ADM Investor Services

LONDON, Aug 22 (Reuters) - The London Metal Exchange said on Thursday it had taken disciplinary action against ADM Investor Services International Limited (ADMISI) which includes a financial penalty of 210,000 pounds ($255,000) for inadequate risk management systems.

The LME said an investigation found that until September 2018 ADMISI had “failed to organise and control its internal affairs ...with appropriate and adequate risk management systems in order to detect, deter, and deal with potential instances of market abuse.”

$1 = 0.8234 pounds Reporting by Pratima Desai; editing by Jason Neely

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