27.02.2014 - U.K. FCA: Commodities houses pose oversight challenges
Commodities-trading houses are posing a challenge to market oversight, the U.K.'s Financial Conduct Authority warned Thursday. As tighter regulatory requirements have reduced banks' activities in the sector, their places have been taken by specialist companies, many of which are closely held and have substantial operations outside direct oversight of market regulators. The best known, such as Cargill, Vitol Group SA and Trafigura Beheer B.V., churn through hundreds of billions of dollars of sales every year through global operations that span from London to Singapore and control the movement of huge volumes of essential goods—ranging from grains, cocoa and coffee beans to industrial metals and oil...............................................Full Article: Source
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