Written on: 3 April 2023

FMSB’s Annual Report is now live. It maps a year of international and Member engagement, and key collaborations to promote the fairness and effectiveness of wholesale financial markets.

In his Chair’s report, Mark Yallop reiterates his decision to stand down from FMSB in 2023 and thanked Members, regulators, and supporters for their “kindness, generosity of spirit, and dedication to a shared purpose.”

As well as a Q&A interview with Mark, the report contains details of seven publications in the year across ESG ratings, voluntary carbon markets, trading platform disclosure, precious metals, LBMA precious metals auctions, investor allocation information, and market misconduct.

The report explains our name change and an enhanced remit, marking a step-change in the areas FMSB covers. We explore a new initiative in post-trade and highlight the steps taken towards creating our current book of work which includes pre-hedging, the role of conduct and culture management information, and the 3 Lines Model.


Annual Report

Notes to editors
• The Financial Markets Standards Board (FMSB) is a standards setting body for the wholesale financial markets.
• Created out of the Fair and Effective Markets Review (FEMR) in 2015, FMSB brings together its members from buy-side, sell-side, global corporate and infrastructure provider organisations to develop Standards, Statements of Good Practice and Spotlight Reviews that raise standards of behaviour, competence and awareness – to promote the fairness and effectiveness of wholesale financial markets.
• As well as standard setting, subject matter experts from member firms debate issues in working groups and are able to benchmark their approaches against industry peers, thus helping to lift standards of conduct.
• Our full membership list is here.

Vic Silverman
Head of Comms

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