UK: Fair and Effective Markets Review publishes its final report

The Fair and Effective Markets Review (FEMR) has published its final report, setting out 21 recommendations to help restore trust in the wholesale Fixed Income, Currency and Commodity (FICC) markets.  The report follows the consultation which concluded on 30 January 2015.  The BoE has launched an open forum which will build on aspects of the FEMR report.

The recommendations are as follows: Continue reading

Hong Kong: SFC supervisory briefing session – summary of key issues

On 2 September 2014, the SFC held its first ever Supervisory Briefing Session (“Session”) to share with market participants their major findings and observations emanating from recent inspections of the equities and FICC (Fixed Income, Commodity, Currencies) businesses.  The main speakers at the Session were Mr Ashley Alder (CEO of SFC), Mr James Shipton (Executive Director of SFC and Head of the Intermediaries Division), Mr Mark Stewart (Executive Director of SFC and Head of Enforcement Division) and Mr Stephen Po (Senior Director of Intermediaries Supervision).  Continue reading