Financial Markets Standards Board (FMSB) is pleased to announce that it has signed a Memorandum of Understanding (MoU) with the United Kingdom Debt Management Office (DMO).
The Memorandum underlines the close working relationship between FMSB and the DMO and the shared interest of the two organisations in fair and effective wholesale markets.
As a global, Member-driven organisation FMSB brings together senior expertise from across markets to identify and agree Standards, Statements of Good Practice to drive fair and effective wholesale markets. The UK Debt Management Office (DMO) is an Executive Agency of HM Treasury, responsible for debt and cash management for the UK Government.
Myles McGuinness, Chief Executive of FMSB said:
“We are pleased to announce this MoU with the DMO, underlining our close working relationship and the trust placed in FMSB as a forum for driving fair and effective wholesale markets. We are now in our tenth year, having been established by the Fair and Effective Markets Review in 2015 and we have gone from strength to strength in the last decade, increasing our membership of global financial market participants and signing agreements with a number of regulators and public authorities across the world.”
Jessica Pulay, Chief Executive of the DMO said:
“I am delighted that the UK Debt Management Office (UK DMO) and the Financial Markets Standards Board (FMSB) have signed a Memorandum of Understanding. This underscores the importance that the UK DMO attaches to the maintenance of the highest standards in the gilt, Treasury bill and broader sterling markets.
I would also like to congratulate the FMSB on its ten-year anniversary, celebrating its important role in helping to ensure high standards and the fair and effective functioning of the UK’s financial markets.”
The MoU is available at: Regulatory Engagement: Regulatory and Public Authority
Notes to editors
About FMSB:
- Financial Markets Standards Board (FMSB) is an industry-led, member-funded global standards body for the wholesale financial markets.
- Created out of the Fair and Effective Markets Review (FEMR) in 2015, FMSB brings together its Members from banks, investment institutions, infrastructure and information providers, corporates, pension funds and interdealer brokers, 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 global 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.
- FMSB’s full membership list is here
For more information:
Laura Conaghan
+44 (0)7929 72669