The LME is fighting a host of lawsuits for the cancelled trades and faces an unprecedented regulatory probe into potential misconduct which could last for years.
(Reporting by Pratima Desai; Editing by Chizu Nomiyama)
LONDON, March 20 (Reuters) - Tom Hine, former General
Counsel and head of enforcement at the London Metal Exchange,
has joined Acuity Law as a consultant partner, the UK-based
commercial law firm said in a release.
Hine, who worked at the LME for 17 years, stepped down at
the end of January to set up Cambitas, a consultancy
specialising in exchanges and exchange-traded commodities. He
will split his time between Acuity and Cambitas.
"Tom...was one of the youngest General Counsels ever at a
major financial services organisation," said Adele Carter,
commercial director at Acuity. "During his time at the London
Metal Exchange, Tom saw the company through an extraordinary
series of challenges."
Hine was General Counsel at the LME during the biggest
crisis to hit the exchange in decades when the exchange
suspended nickel trading for last March for the first time since
1988 and cancelled all trades on March 8.
More than a year after the nickel debacle, the exchange
owned by Hong Kong Exchanges and Clearing is still
battling to restore nickel volumes and its reputation.
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