Financial Markets Standards Board (FMSB) welcomed Commonwealth Bank of Australia (CBA) on 16 May 2022, to be part of the leading market-led, global standards body for fair and effective wholesale financial markets.
Joining FMSB’s 48-strong membership of practitioners including from the sell side, buy side and corporations as well as data providers, trading venues, interdealer brokerages, exchanges and other platforms.
CBA Executive General Manager Global Markets, Chris McLachlan, said: “We are excited to join FMSB and contribute to its important work shaping standards which support transparent, fair and effective global wholesale financial markets that operate in the best interest of customers.”
FMSB CEO Myles McGuinness said: “We are pleased to welcome Commonwealth Bank of Australia as a Full Member of FMSB. We have a busy agenda for 2022 and look forward to working with CBA on various topics in the pursuit of strengthening trust in wholesale financial markets.”
1. About Commonwealth Bank of Australia
Commonwealth Bank of Australia (ASX:CBA) is one of Australia’s leading providers of personal banking, business and institutional banking and share broking services. With more than 15 million customers and a history spanning more than a century, the Group’s purpose is to build a brighter future for all. The Commonwealth Bank is Australia’s leader in digital banking and maintains the largest branch network across the country. Headquartered in Sydney, Australia, the Group operates brands including Bankwest in Australia and ASB in New Zealand. For more information visit www.commbank.com.au
2. The Financial Markets Standards Board (FMSB) is a standards setting body for the wholesale financial markets.
3. Created out of the Fair and Effective Markets Review (FEMR) in 2015, FMSB brings together its members from buy-side, sell side, corporate issuer and infrastructure provider organisations to develop standards, spotlight reviews and statements of good practice that raise standards of behaviour, competence and awareness – to promote the fairness and effectiveness of wholesale financial markets.
4. 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.
5. Other bank members of FMSB include National Australia Bank (NAB), ANZ and Westpac Banking Corporation. Our full membership list is here.
FMSB, Vic Silverman,