UK’s FCA Dismisses Calls for Market Abuse Inquiry Into Budget

The Financial Conduct Authority has told British lawmakers it is not investigating the release of information around Chancellor of the Exchequer Rachel Reeves’ budget, after opposition parties suggested it could have amounted to market abuse.

In a letter to the House of Commons Treasury committee, FCA chief Nikhil Rathi said that “how the government publicly communicates its position in advance of a fiscal event or similar is a matter for Parliament through its accountability mechanisms.”