Article reports that the FCA’s latest attempt to increase governance standards could result in “fewer, better firms”, according to Alex McDonald, EVIA’s chief executive officer, following the regulator’s letter to chief executive officers of brokerage firms in wholesale financial markets. EVIA’s chairman, David Clark, considers that this rise in standards will reduce competition and highlight that regulation is steering back to principles-based, rather than rules-based. EVIA’s comments came ahead of the FCA’s chief, Andrew Bailey’s speech, claiming there should be a debate regarding the future of regulation.
Article reports on a 43% surge in the volume of the Spanish wholesale power market, the increase was led by speculators and not producers, who entered the Spanish market driven out by the MiFID financial regulation, reducing volatility and returns in traditional markets. Traded volumes augmented due to an increase activity from green power energy producers who cleared long-term PPAs through brokers.
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