FICC reform at 'critical point' after Brexit vote: Bank of England

摘要

The initial momentum behind improving conduct in the wholesale markets "must not be lost" in the wake of Britain's vote to leave the European Union, the Bank of England said. In an update to the "Fair and Effective Markets Review", which was launched in June 2014 to improve standards and combat abuse in the fixed income, currencies and commodities markets, the head of Britain's Financial Conduct Authority, Andrew Bailey, said progress is at a "critical point". The report published last week laid out progress made on recommendations made a year ago under the review, which included a new code of conduct, making senior managers accountable for misconduct by their staff and lengthening prison sentences for those convicted.