For immediate release: Wednesday 13 September 2006

IMA WELCOMES TREASURY PLANS TO SAFEGUARD LIGHT TOUCH STOCK EXCHANGE REGULATION

Following today’s announcement by the Economic Secretary Ed Balls MP that the Government is to enhance the FSA's powers in relation to recognised exchanges
Richard Saunders, Chief Executive of the IMA, commented:

“The IMA has expressed concern at the prospect that a change of ownership of the London Stock Exchange might result in a dilution of the very effective FSA approach to regulating the market.  Today’s announcement by Ed Balls is therefore extremely welcome and a real tangible signal of the Treasury’s intent to safeguard the attractiveness of the UK as a financial services centre”

Mr. Saunders’ letter of 7 July to London Stock Exchange Chief Executive, Clara Furse, is attached. 

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For further information, please contact:
Helen Stephenson, Communications Officer, IMA 020 7831 0898

Out of hours contact:
Mona Patel, Head of Communications, IMA, 07834 089 332