Regulatory Engagement: Regulatory and Public Authority

“The Bank of England remains firmly committed to supporting the Financial Markets Standards Board and its mission to make markets fairer and more effective. This is a partnership that is vital and one we greatly value and enjoy.

FMSB has delivered significant progress over the last decade in setting standards and good practice for markets, in areas from large trades to issuance markets, setting out risks around home-working and more recently the application of AI. It has been particularly encouraging to see the Post-Trade Committee’s work translating into meaningful change to make post-trade processes more efficient and resilient.
Combined with broader strategic thinking on the future of financial markets, this represents an impressive track record. I would like to congratulate you on these achievements and reaffirm our continued support.”

Andrew Bailey, Governor of the Bank of England

“While standards do not replace formal regulation, FMSB’s consensus-based approach enables principles of market integrity to be embedded quickly and effectively at the front line. This collaborative model helps ensure that standards are both practical and responsive to real market conditions. The ability to respond swiftly to emerging risks has never been more important, given the pace of structural change and innovation in today’s markets. Against this backdrop, FMSB’s work plays a vital role in supporting resilient and well-functioning markets. Given its strong track record, I am confident you will continue to play a leading role in shaping global market standards in the years ahead.”

Ashley Alder, Chair, Financial Conduct Authority

“FMSB is a highly valuable forum for bringing together expertise from across global wholesale markets to address market challenges in a practical way. ASIC values FMSB member firms’ commitments to develop and uphold global standards and good practice, and we appreciate engaging with FMSB members’ latest areas of work under our Consultation Agreement. Over the past year and as we look ahead, it’s important to recognise the value of strength in conduct, capability, communication and consistent commitment to fair and transparent outcomes in markets.”

Simone Constant, Commissioner, Australian Securities and Investments Commission

“Our ongoing Consultation Agreement with FMSB helps support the New Zealand FMA to better understand international best practice in wholesale markets. Being connected to what is going on in other markets has always been of great importance to ensuring we bring global learnings to improving the functioning of our local markets. We look forward to continuing our cooperation with the FMSB on topics such as AI and Private Markets.”

Samantha Barrass, Chief Executive, New Zealand Financial Markets Authority

“The Memorandum of Understanding between the UK Debt Management Office and Financial Markets Standards Board reflects the UK DMO’s ongoing endorsement of high standards across the gilt, Treasury bill, and wider sterling markets. High standards are vital to maintaining investor confidence, supporting transparency and liquidity, and ensuring the fair and efficient functioning of these markets, which underpin broader financial stability. I would also like to congratulate FMSB on its tenth anniversary and its continued contribution to promoting high standards in global financial markets.”

Jessica Pulay, Chief Executive, UK Debt Management Office

“Our partnership with the Financial Markets Standards Board (FMSB) highlights our ongoing commitment to supporting robust, resilient, and efficient markets. This agreement marks the start of closer cooperation and shared goals.”

Marie-Anne Barbat-Layani, Chair, Autorité des Marchés Financiers