U.K.’s Market-Abuse Chief Resigns
July 21, 2008
The executive responsible for market-abuse policy at the U.K.’s financial watchdog has jumped ship to the Irish Stock Exchange, even as authorities in the U.S. and Europe step up their scrutiny of volatile global markets.
Mike Duignan, who currently runs market-abuse policy at the Financial Services Authority, agreed to head up market supervision at Ireland’s stock exchange. The Irish bourse recently separated its supervisory unit from its exchange business in an effort to improve market monitoring and “strengthen the reputation of the ISE and its markets,” according to Deirdre Somers, the ISE’s chief executive.
A spokesman for the FSA said that it has yet to appoint a successor for Mr. Duignan, but will do so eventually. Mr. Duignan’s departure comes as lawmakers on both sides of the Atlantic put regulators under pressure to calm jumpy markets.
The U.K.’s Treasury Select Committee last week held a hearing into the regulation of oil markets at which witnesses from the FSA, oil market ICE Futures Europe and Anglo-Dutch oil giant Shell were grilled over the key factors behind the rise in oil prices, including the role of speculation. Alexander Justham, a director in the FSA’s markets division, played down fears over the existence of a “London loophole” that U.S. lawmakers have claimed might allow institutional investors to manipulate oil prices.
–From Financial News at www.efinancialnews.com.
Write to Tom Fairless at [email protected]
This website and sisters royaldutchshellplc.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.
Royal Dutch Shell conspired directly with Hitler, financed the Nazi Party, was anti-Semitic and sold out its own Dutch Jewish employees to the Nazis. Shell had a close relationship with the Nazis during and after the reign of Sir Henri Deterding, an ardent Nazi, and the founder and decades long leader of the Royal Dutch Shell Group. His burial ceremony, which had all the trappings of a state funeral, was held at his private estate in Mecklenburg, Germany. The spectacle (photographs below) included a funeral procession led by a horse drawn funeral hearse with senior Nazis officials and senior Royal Dutch Shell directors in attendance, Nazi salutes at the graveside, swastika banners on display and wreaths and personal tributes from Adolf Hitler and Reichsmarschall, Hermann Goring. Deterding was an honored associate and supporter of Hitler and a personal friend of Goring.
Deterding was the guest of Hitler during a four day summit meeting at Berchtesgaden. Sir Henri and Hitler both had ambitions on Russian oil fields. Only an honored personal guest would be rewarded with a private four day meeting at Hitler’s mountain top retreat.
IN JULY 2007, MR BILL CAMPBELL (ABOVE, A RETIRED GROUP AUDITOR OF SHELL INTERNATIONAL SENT AN EMAIL TO EVERY UK MP AND MEMBER OF THE HOUSE OF LORDS: 
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A head-cut image of Alfred Donovan (now deceased) appears courtesy of The Wall Street Journal.
