MFA Submits Comment Letter to the FCA in Response to Consultation on Improving Equity Secondary Markets

On September 16, 2022, MFA submitted a comment letter to the Financial Conduct Authority (FCA) in response to the consultation on improving equity secondary markets.

MFA is fully supportive of the FCA’s intentions to improve how UK-based equity markets operate, in accordance with the objectives and commitments as laid out in the Strategy of 2022-2025, and 2022-2023 Business Plan. MFA encourages the FCA to continue to engage closely with the US and other international policy and regulatory leaders to ensure continued alignment of the UK market framework in a way that supports cross-border trading.

MFA supports the FCA’s readiness to adjust the UK secondary equity markets regime to further consumer protection, market integrity, and the promotion of competition, while maintaining high standards which will enable international buy-side firms, such as MFA’s members, to continue to participate in the UK markets with confidence. In particular, MFA is supportive of the FCA’s focus on improving the efficiency of equity markets and enhancing the resilience of trading on UK trading venues and markets when an outage occurs, which is essential for asset managers to be able to trade on UK markets with confidence.