The FICC Markets Standards Board (FMSB) has published the final version of a Statement of Good Practice on the issue of conflicts of interest. The Board says the Statement aims to provide practical, working level guidance and examples for market participants to draw on, as they consider ways to prevent, manage and mitigate conflicts of […]
The FICC Markets Standards Board (FMSB) has published the final version of a Statement of Good Practice on the issue of Information & Confidentiality, which seeks to bring clarity to what it terms the complex issue of sharing information in fixed income and commodities markets and dealing with confidential information within a firm. FMSB says […]
The FICC Markets Standards Board (FMSB) has named Martin Pluves as its new CEO. Pluves joins FMSB from LCH Group, where he was CEO of LCH. He has spent a decade at the firm in a variety of senior roles and was appointed CEO in 2015. Pluves’ responsibilities at LCH included operations in London as […]
The FICC Markets Standards Board (FMSB) has published a transparency draft of a new statement of good practice on conflicts of interest – the ninth such statement since it was established in 2015. The primary aim of the latest statement is to provide guidance for FICC market participants as they consider ways in which to […]
The FICC Markets Standards Board (FMSB) has published the final version of its Statement of Good Practice (SGP) on Suspicious Transaction and Order Reporting.The FMSB is an independent body set up by market practitioners to try and improve standards of conduct in wholesale FICC markets. It aims to bring transparency to grey areas in the wholesale FICC markets by identifying emerging vulnerabilities, clarifying and documenting practice and agreeing standards to improve conduct and market behaviour. Setting up the FMSB was one of the main recommendations to emerge from the Fair and Effective Markets Review (FEMR), which was conducted by HM Treasury, the Bank of England and the Financial Conduct Authority (FCA).
The FICC Markets Standards Board (FMSB) has published its Behavioural Cluster Analysis (BCA) study, a piece of research that has reviewed the behavioural patterns in 390 cases of misconduct in financial markets over an extended period of time (225 years stretching back to 1792) and covering 26 countries and multiple asset classes. This review indicates that the behavioural patterns evident in misconduct events are not unique to each case but that the same 25 behavioural patterns are evident in market misconduct cases and these consistently repeat and recur over time.
The FICC Markets Standards Board has publishes a transparency draft of a new Statement of Good Practice on Suspicious Transaction and Order Reporting. The Statement covers the identification of suspicious transactions and orders and their reporting to the relevant regulator. In the UK and other jurisdictions regulated market participants have an obligation report such transactions to their regulator – in the UK this is as a Suspicious Transaction and Order Report submitted to the FCA.
A suspicious transaction or order is one where there is a reasonable suspicion that it could constitute insider dealing, market manipulation or attempted insider dealing or market manipulation.
The Financial Markets Standards Board (FMSB), established in the wake of last years Fair and Effective Markets review (FEMR) process in the UK, has published its first draft standard aimed at improving conduct in FICC markets. The FMSB’s work started last year and was initially aimed at all FICC markets, however since the Bank for […]