London Stock Exchange gets approval from UK financial watchdog

The Head of the UK’s watchdog has backed London Stock Exchange's (LSE) shareholders after they voted to support incumbent Chairman Donald Brydon.

They added that this “should lead to an orderly process of succession.”

Andrew Bailey, the Head of the Financial Conduct Authority, made the comments hours after an extraordinary meeting in London on Tuesday, where 79% of shareholders voted to retain Brydon.

Despite this show of faith, an activist investor trying to oust the Chairman of the London Stock Exchange Group, had previously said that “shareholders had lost faith” in Donald Brydon.