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Tory peer takes swipe at FCA over brokers' merger approval

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Lord Leigh of Hurley has accused the City watchdog of acting as 'a block on economic growth' as his employer seeks to conclude its merger with rival Cenkos

A senior Tory peer has taken a swipe at the City watchdog over its timetable for approving the merger of two prominent London stockbrokers.

Sources said on Friday that Lord Leigh had been obliquely referring to the FCA's approach to clearing the combination of finnCap and Cenkos, which announced plans to merge in March.The peer is senior partner at Cavendish Corporate Finance, which was acquired by finnCap in 2018.

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