In light of Lehman Brothers announcement to file for bankruptcy, the FSA has confirmed it is working in tandem with the US authorities to ensure an orderly wind down of its principal UK trading subsidiary, Lehman Brothers International (Europe), which was placed into administration earlier this morning.
The FSA is working with market practitioners, including the London Clearing House (LCH), to ensure the process involved with the winding down of the wholesale business in order to avoid mass market disruption....
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