Unforeseen regulatory issue impedes UK warrants market

Dealers who issue options on the London Stock Exchange’s (LSE) new covered warrants market, and the brokers who sell them to retail investors, are embroiled in a dispute with the UK’s Financial Services Authority (FSA) about online trading of the products. If the issue is not resolved soon, say dealers and brokers, trading of warrants by UK retail investors might never take off.

“It’s a major problem,” says David Lake, London-based director of UK warrants at French investment bank SG. “The FSA

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