‘Make America Great Again’ was the campaign watchword of President-elect Donald Trump and bankers and investors are watching with interest to see what this will mean for U.S. banks. Trump’s dislike of anti-competitive regulation is well known.
The FCA publishes a paper on asymmetries in dark pool reference prices to analyse the role of participant speed and sophistication in driving outcomes in today’s markets.
The FCA has recently completed a review of four key areas in the market abuse systems and controls employed at several market-making firms. The firms were positioned in the small and mid-cap equity market making space but their findings are relevant to most trading firms which undertake a broad range of activities, where conflicts of interest could arise.
Last year the focus of the UK financial services regulatory landscape shifted from high-profile fines levied by regulators on banks for Libor and FX rigging towards individuals’ conduct and their responsibility for abuses.
