Regulatory Engagement: Regulatory and Public Authority

“From its origins in FEMR, FMSB has evolved into a trusted forum for bringing together expertise from across global wholesale markets to address market challenges in a practical way. In 2024, the Standards on Client Onboarding and the Sharing of SSIs have been particularly valuable contributions to some of the operational issues identified by the Post-Trade Task Force which the Bank and others convened. The success of FMSB is down to the commitment of its members. I would encourage all those with a stake in wholesale markets who are not yet involved to join this effort (including those involved in growing private markets), so that FMSB is able to continue its valuable work over the coming years.”

Andrew Bailey, Governor of the Bank of England

“FMSB continues to demonstrate its value with practical Standards, Good Practice Statements and Spotlight Reviews, developed by industry practitioners, to support well-functioning, trusted global wholesale financial markets. It has come a long way over the past decade, and with its growing membership I am confident that the FMSB will continue its contribution to the integrity of core wholesale markets on which the financial system rests.”

Ashley Alder, Chair, Financial Conduct Authority

“We were pleased to renew our agreement with Financial Markets Standards Board in 2024, underlining our close working relationship and the importance ASIC places on the financial services industry committing to developing and upholding its own global standards when it comes to market practices. FMSB continues to address topics which are of interest to ASIC, and we appreciate, through the Consultation Agreement, the opportunity to observe international industry views on best practice from the various wholesale market communities represented in FMSB membership.”

Simone Constant, Commissioner, Australian Securities and Investments Commission

“We value our ongoing Consultation Agreement with FMSB, which supports New Zealand FMA’s alignment with international best practice when it comes to standards of practice in wholesale markets. Many of the topics to be addressed by FMSB are areas of particular interest for New Zealand FMA, including emerging issues such as market facing applications of AI and private market valuations. As FMSB enters its 10th year we look forward to continuing cooperation as market developments pose new global challenges.”

Samantha Barrass, Chief Executive, New Zealand Financial Markets Authority

“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.”

Jessica Pulay, Chief Executive, UK Debt Management Office