He accused the FCA of acting as a "block on economic growth" and called for Treasury ministers to ensure that the FCA is aware of its new objectives and requirements.
The peer suggested that the FCA's timetable for approving the merger is a significant obstacle to economic growth.
The merger was announced in March and is expected to become effective during the third calendar quarter of 2023.
LONDON DAILY ARCHIVE
Senior Tory peer criticizes FCA for 'blocking economic growth' with merger approval process
Lord Leigh of Hurley, a senior Tory peer and veteran banker, has criticized the Financial Conduct Authority (FCA) for its approach to approving the merger of two prominent London stockbrokers, finnCap and Cenkos.
02 July 2023 · 01:37 UTC
