Financial industry cheers outcome of UK markets review

Dealers, customers and platforms welcome FEMR recommendations

Photo of Alex McDonald
Alexander McDonald, Wholesale Markets Brokers' Association

The financial industry has welcomed the Bank of England's recommended changes to practices and processes in fixed income, commodities and currencies (Ficc) markets, which emerged from the Fair and Effective Markets Review (FEMR) in the wake of a string of high-profile scandals.

Bill Michael, head of financial services for Europe, Middle East and Africa at KPMG, says although there wasn't a clear answer coming from the review, the central bank and the UK government have shown leadership in

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