8 September 2015
By MarketVoice Staff
The Bank of England on June 10 published the final report of the Fair and Effective Markets Review, a comprehensive effort by the U.K. regulatory authorities to raise standards and improve regulation for wholesale markets in fixed income, currency and commodities. The final report contains 21 policy recommendations. While many are aimed at individuals and institutions in the U.K., some are addressed to international authorities and are intended to raise standards worldwide.
“This is a major opportunity for the industry to establish common standards of market practice that are well understood, widely followed and, crucially, that keep pace with markets,” Bank of England Governor Mark Carney said in a speech. “If firms and their staff fail to take this opportunity, more restrictive regulation is inevitable."
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