March 31, 2017 / 2:48 PM / 8 months ago

London Metal Exchange imposes $1.4 mln fine on Glencore warehouse unit

LONDON, March 31 (Reuters) - The London Metal Exchange (LME) has imposed a $1.4 million fine on the metals warehouse unit of commodity group Glencore over alleged falsified documents, it said in a statement.

The exchange, the world’s oldest and largest market for industrial metals, said Glencore’s Access World agreed to pay the fine “without admitting any of the alleged breaches”. “The exchange reminds the market that it expects its listed warehouses ... to act with integrity at all times,” the LME, owned by Hong Kong Exchanges and Clearing Ltd., said in the statement. (Editing by David Evans)

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