The MoU sets out a high-level framework formalising the continuing cooperation between the FCA, the bank and FMSB in relation to the delivery of FMSB’s primary objectives as recommended in the Fair and Effective Markets Review Final Report.
According to the official announcement, these objectives seek to promote fair and effective global wholesale FICC markets; to produce clear guidance on how business should be conducted to eliminate or mitigate vulnerabilities; and to promulgate such guidance as widely as possible globally and obtain commitments for its use.
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