The Investment Exchanges and Clearing Houses Act 2006 (c. 55) is an act of the Parliament of the United Kingdom. It was intended to meet concernsAs to the concerns, see the written ministerial statement by Ed Balls on Financial Services Regulation of 13 September 2006 - Hansard (House of Commons), vol. 449, cols. 125WS to 126WS - which was referred to during the Second Reading of the bill for this act. They related to the potential effects of a possible takeover of the London Stock Exchange by a company based outside of the United Kingdom. that recognised investment exchanges and clearing houses might introduce excessive regulation.Explanatory notes, paragraph 4 This act is amended by articles 3 and 6 the Treaty of Lisbon (Changes in Terminology) Order 2011 (SI 2011/1043).
Background The act provided was passed due to concerns a NASDAQ takeover of the London Stock Exchange would lead to stronger regulations being imposed on the London Stock Exchange.
Provisions The act gave the Financial Services Authority (FSA) authority over regulations introduced by exchanges and clearing houses.
The goal of the legislation was to maintain the light-touch regulatory environment within the London Stock Exchange.
References Halsbury's Statutes,
External links The Investment Exchanges and Clearing Houses Act 2006, as amended from the National Archives. The Investment Exchanges and Clearing Houses Act 2006, as originally enacted from the National Archives. Explanatory notes to the Investment Exchanges and Clearing Houses Act 2006.