{"id":22108,"date":"2017-11-29T19:23:26","date_gmt":"2017-11-29T19:23:26","guid":{"rendered":"http:\/\/www.bnreport.com\/carney-praises-efforts-to-reduce-misconduct-in-financial-markets\/"},"modified":"2017-11-29T19:23:27","modified_gmt":"2017-11-29T19:23:27","slug":"carney-praises-efforts-to-reduce-misconduct-in-financial-markets","status":"publish","type":"post","link":"https:\/\/www.bnreport.com\/en\/carney-praises-efforts-to-reduce-misconduct-in-financial-markets\/","title":{"rendered":"Carney praises efforts to reduce misconduct in financial markets"},"content":{"rendered":"

Bank of England governor Mark Carney<\/a> today praised the efforts made by financial market players and regulators to reduce misconduct in the industry.<\/p>\n

Speaking on the second anniversary of the Fair and Effective Markets Review, which was designed to help prevent abuse of the fixed income, currency and commodities (FICC) markets, Carney said the industry is \u201cmaking enormous progress\u201d.<\/p>\n

He assured attendees at an event hosted by the FICC Market Standard Board (FMSB) that the UK would not see a \u201crace to the bottom\u201d to slash regulation post-Brexit. However he did suggest that the Bank may not maintain rules such as the cap on bankers\u2019 bonuses, and the burdensome capital requirements for challenger banks.<\/p>\n

Read more: <\/strong>Bank of England governor Mark Carney says he can't see Xavier Rolet continuing as London Stock Exchange boss<\/a><\/p>\n

Carney referenced developments such as the Senior Managers Regime \u2013 which attributes defined responsibilities to senior employees \u2013 and the move from Libor to Sonia as a new sterling interest rate benchmark as significant developments.<\/p>\n

\u201cThe City has a special responsibility to address the root causes of misconduct, given its pre-eminent position in global markets,\u201d said Carney.<\/p>\n

\u201cDrawing on the expertise of its members, the FMSB has finalised standards that codify best practice with respect to reference price transactions, commodity binary options, and new bond issues.\u201d<\/p>\n

Read more: <\/strong>Reinforcing trust in UK money markets is vital to the future health of the financial system<\/a><\/p>\n

He said he was confident that these standards would help to \u201creverse the tide of ethical drift\u201d in markets since they are \u201cpart of a much broader effort by UK authorities and market participants\u201d.<\/p>\n

\u201cWe are moving from markets that collapse when there is a shock from abroad to markets that are resilient,\u201d he added.<\/p>\n

Carney also announced that the Working Group on Sterling Risk-Free Rates, a market-led group initiated by the Bank and the Financial Conduct Authority (FCA), would be taking charge of the move from Libor to Sonia over the next four years until Sonia is implemented.<\/p>\n

Read more: <\/strong>Libor will end in 2021 says Britain's top financial regulator<\/a><\/p>\n

<\/a><\/strong> <\/a><\/p>\n

Original Article<\/a><\/p>\n

[contf]
\n[contfnew]
\n <\/p>\n

CityAM<\/a><\/h5>\n

[contfnewc]
\n[contfnewc]<\/p>\n","protected":false},"excerpt":{"rendered":"

Bank of England governor Mark Carney today praised the effor..<\/p>\n","protected":false},"author":1,"featured_media":22109,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[202],"tags":[],"class_list":["post-22108","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"\nCarney praises efforts to reduce misconduct in financial markets - Business News Report<\/title>\n<meta name=\"description\" content=\"Bank of England governor Mark Carney today praised the effor..\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.bnreport.com\/en\/carney-praises-efforts-to-reduce-misconduct-in-financial-markets\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Carney praises efforts to reduce misconduct in financial markets - Business News Report\" \/>\n<meta property=\"og:description\" content=\"Bank of England governor Mark Carney today praised the effor..\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.bnreport.com\/en\/carney-praises-efforts-to-reduce-misconduct-in-financial-markets\/\" \/>\n<meta property=\"og:site_name\" content=\"Business News Report\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Business-NewsReport-328225811095934\/\" \/>\n<meta property=\"article:published_time\" content=\"2017-11-29T19:23:26+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2017-11-29T19:23:27+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.bnreport.com\/wp-content\/uploads\/2017\/11\/britain-banking-boe-brexit-880706350-5a1edfc368b8b.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"839\" \/>\n\t<meta property=\"og:image:height\" content=\"523\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"infopal11\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@BNReport\" \/>\n<meta name=\"twitter:site\" content=\"@BNReport\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"infopal11\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/carney-praises-efforts-to-reduce-misconduct-in-financial-markets\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/carney-praises-efforts-to-reduce-misconduct-in-financial-markets\\\/\"},\"author\":{\"name\":\"infopal11\",\"@id\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/#\\\/schema\\\/person\\\/19d1c5a2dd7f60584a09de4a7805d68f\"},\"headline\":\"Carney praises efforts to reduce misconduct in financial markets\",\"datePublished\":\"2017-11-29T19:23:26+00:00\",\"dateModified\":\"2017-11-29T19:23:27+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/carney-praises-efforts-to-reduce-misconduct-in-financial-markets\\\/\"},\"wordCount\":364,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/carney-praises-efforts-to-reduce-misconduct-in-financial-markets\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.bnreport.com\\\/wp-content\\\/uploads\\\/2017\\\/11\\\/britain-banking-boe-brexit-880706350-5a1edfc368b8b.jpg\",\"articleSection\":[\"Finance\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.bnreport.com\\\/en\\\/carney-praises-efforts-to-reduce-misconduct-in-financial-markets\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/carney-praises-efforts-to-reduce-misconduct-in-financial-markets\\\/\",\"url\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/carney-praises-efforts-to-reduce-misconduct-in-financial-markets\\\/\",\"name\":\"Carney praises efforts to reduce misconduct in financial markets - Business News Report\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/carney-praises-efforts-to-reduce-misconduct-in-financial-markets\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/carney-praises-efforts-to-reduce-misconduct-in-financial-markets\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.bnreport.com\\\/wp-content\\\/uploads\\\/2017\\\/11\\\/britain-banking-boe-brexit-880706350-5a1edfc368b8b.jpg\",\"datePublished\":\"2017-11-29T19:23:26+00:00\",\"dateModified\":\"2017-11-29T19:23:27+00:00\",\"description\":\"Bank of England governor Mark Carney today praised the effor..\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/carney-praises-efforts-to-reduce-misconduct-in-financial-markets\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.bnreport.com\\\/en\\\/carney-praises-efforts-to-reduce-misconduct-in-financial-markets\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/carney-praises-efforts-to-reduce-misconduct-in-financial-markets\\\/#primaryimage\",\"url\":\"https:\\\/\\\/www.bnreport.com\\\/wp-content\\\/uploads\\\/2017\\\/11\\\/britain-banking-boe-brexit-880706350-5a1edfc368b8b.jpg\",\"contentUrl\":\"https:\\\/\\\/www.bnreport.com\\\/wp-content\\\/uploads\\\/2017\\\/11\\\/britain-banking-boe-brexit-880706350-5a1edfc368b8b.jpg\",\"width\":839,\"height\":523},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/carney-praises-efforts-to-reduce-misconduct-in-financial-markets\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"\u0627\u0644\u0631\u0626\u064a\u0633\u064a\u0629\",\"item\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Carney praises efforts to reduce misconduct in financial markets\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/#website\",\"url\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/\",\"name\":\"Business News Report\",\"description\":\"Latest News on the World of Politics & Business\",\"publisher\":{\"@id\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/#organization\",\"name\":\"\u0628\u0632\u0646\u0633 \u0631\u064a\u0628\u0648\u0631\u062a \u0627\u0644\u0627\u062e\u0628\u0627\u0631\u064a\",\"url\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"https:\\\/\\\/www.bnreport.com\\\/wp-content\\\/uploads\\\/2020\\\/12\\\/LOGO2.png\",\"contentUrl\":\"https:\\\/\\\/www.bnreport.com\\\/wp-content\\\/uploads\\\/2020\\\/12\\\/LOGO2.png\",\"width\":200,\"height\":50,\"caption\":\"\u0628\u0632\u0646\u0633 \u0631\u064a\u0628\u0648\u0631\u062a \u0627\u0644\u0627\u062e\u0628\u0627\u0631\u064a\"},\"image\":{\"@id\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/#\\\/schema\\\/logo\\\/image\\\/\"},\"sameAs\":[\"https:\\\/\\\/www.facebook.com\\\/Business-NewsReport-328225811095934\\\/\",\"https:\\\/\\\/x.com\\\/BNReport\",\"https:\\\/\\\/www.instagram.com\\\/business.newsreport\"]},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/#\\\/schema\\\/person\\\/19d1c5a2dd7f60584a09de4a7805d68f\",\"name\":\"infopal11\",\"url\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/author\\\/infopal11\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Carney praises efforts to reduce misconduct in financial markets - Business News Report","description":"Bank of England governor Mark Carney today praised the effor..","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.bnreport.com\/en\/carney-praises-efforts-to-reduce-misconduct-in-financial-markets\/","og_locale":"en_US","og_type":"article","og_title":"Carney praises efforts to reduce misconduct in financial markets - Business News Report","og_description":"Bank of England governor Mark Carney today praised the effor..","og_url":"https:\/\/www.bnreport.com\/en\/carney-praises-efforts-to-reduce-misconduct-in-financial-markets\/","og_site_name":"Business News Report","article_publisher":"https:\/\/www.facebook.com\/Business-NewsReport-328225811095934\/","article_published_time":"2017-11-29T19:23:26+00:00","article_modified_time":"2017-11-29T19:23:27+00:00","og_image":[{"width":839,"height":523,"url":"https:\/\/www.bnreport.com\/wp-content\/uploads\/2017\/11\/britain-banking-boe-brexit-880706350-5a1edfc368b8b.jpg","type":"image\/jpeg"}],"author":"infopal11","twitter_card":"summary_large_image","twitter_creator":"@BNReport","twitter_site":"@BNReport","twitter_misc":{"Written by":"infopal11","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.bnreport.com\/en\/carney-praises-efforts-to-reduce-misconduct-in-financial-markets\/#article","isPartOf":{"@id":"https:\/\/www.bnreport.com\/en\/carney-praises-efforts-to-reduce-misconduct-in-financial-markets\/"},"author":{"name":"infopal11","@id":"https:\/\/www.bnreport.com\/en\/#\/schema\/person\/19d1c5a2dd7f60584a09de4a7805d68f"},"headline":"Carney praises efforts to reduce misconduct in financial markets","datePublished":"2017-11-29T19:23:26+00:00","dateModified":"2017-11-29T19:23:27+00:00","mainEntityOfPage":{"@id":"https:\/\/www.bnreport.com\/en\/carney-praises-efforts-to-reduce-misconduct-in-financial-markets\/"},"wordCount":364,"commentCount":0,"publisher":{"@id":"https:\/\/www.bnreport.com\/en\/#organization"},"image":{"@id":"https:\/\/www.bnreport.com\/en\/carney-praises-efforts-to-reduce-misconduct-in-financial-markets\/#primaryimage"},"thumbnailUrl":"https:\/\/www.bnreport.com\/wp-content\/uploads\/2017\/11\/britain-banking-boe-brexit-880706350-5a1edfc368b8b.jpg","articleSection":["Finance"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.bnreport.com\/en\/carney-praises-efforts-to-reduce-misconduct-in-financial-markets\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.bnreport.com\/en\/carney-praises-efforts-to-reduce-misconduct-in-financial-markets\/","url":"https:\/\/www.bnreport.com\/en\/carney-praises-efforts-to-reduce-misconduct-in-financial-markets\/","name":"Carney praises efforts to reduce misconduct in financial markets - Business News Report","isPartOf":{"@id":"https:\/\/www.bnreport.com\/en\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.bnreport.com\/en\/carney-praises-efforts-to-reduce-misconduct-in-financial-markets\/#primaryimage"},"image":{"@id":"https:\/\/www.bnreport.com\/en\/carney-praises-efforts-to-reduce-misconduct-in-financial-markets\/#primaryimage"},"thumbnailUrl":"https:\/\/www.bnreport.com\/wp-content\/uploads\/2017\/11\/britain-banking-boe-brexit-880706350-5a1edfc368b8b.jpg","datePublished":"2017-11-29T19:23:26+00:00","dateModified":"2017-11-29T19:23:27+00:00","description":"Bank of England governor Mark Carney today praised the effor..","breadcrumb":{"@id":"https:\/\/www.bnreport.com\/en\/carney-praises-efforts-to-reduce-misconduct-in-financial-markets\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.bnreport.com\/en\/carney-praises-efforts-to-reduce-misconduct-in-financial-markets\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.bnreport.com\/en\/carney-praises-efforts-to-reduce-misconduct-in-financial-markets\/#primaryimage","url":"https:\/\/www.bnreport.com\/wp-content\/uploads\/2017\/11\/britain-banking-boe-brexit-880706350-5a1edfc368b8b.jpg","contentUrl":"https:\/\/www.bnreport.com\/wp-content\/uploads\/2017\/11\/britain-banking-boe-brexit-880706350-5a1edfc368b8b.jpg","width":839,"height":523},{"@type":"BreadcrumbList","@id":"https:\/\/www.bnreport.com\/en\/carney-praises-efforts-to-reduce-misconduct-in-financial-markets\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"\u0627\u0644\u0631\u0626\u064a\u0633\u064a\u0629","item":"https:\/\/www.bnreport.com\/en\/"},{"@type":"ListItem","position":2,"name":"Carney praises efforts to reduce misconduct in financial markets"}]},{"@type":"WebSite","@id":"https:\/\/www.bnreport.com\/en\/#website","url":"https:\/\/www.bnreport.com\/en\/","name":"Business News Report","description":"Latest News on the World of Politics & Business","publisher":{"@id":"https:\/\/www.bnreport.com\/en\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.bnreport.com\/en\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/www.bnreport.com\/en\/#organization","name":"\u0628\u0632\u0646\u0633 \u0631\u064a\u0628\u0648\u0631\u062a \u0627\u0644\u0627\u062e\u0628\u0627\u0631\u064a","url":"https:\/\/www.bnreport.com\/en\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.bnreport.com\/en\/#\/schema\/logo\/image\/","url":"https:\/\/www.bnreport.com\/wp-content\/uploads\/2020\/12\/LOGO2.png","contentUrl":"https:\/\/www.bnreport.com\/wp-content\/uploads\/2020\/12\/LOGO2.png","width":200,"height":50,"caption":"\u0628\u0632\u0646\u0633 \u0631\u064a\u0628\u0648\u0631\u062a \u0627\u0644\u0627\u062e\u0628\u0627\u0631\u064a"},"image":{"@id":"https:\/\/www.bnreport.com\/en\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/Business-NewsReport-328225811095934\/","https:\/\/x.com\/BNReport","https:\/\/www.instagram.com\/business.newsreport"]},{"@type":"Person","@id":"https:\/\/www.bnreport.com\/en\/#\/schema\/person\/19d1c5a2dd7f60584a09de4a7805d68f","name":"infopal11","url":"https:\/\/www.bnreport.com\/en\/author\/infopal11\/"}]}},"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.bnreport.com\/en\/wp-json\/wp\/v2\/posts\/22108","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bnreport.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bnreport.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bnreport.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bnreport.com\/en\/wp-json\/wp\/v2\/comments?post=22108"}],"version-history":[{"count":0,"href":"https:\/\/www.bnreport.com\/en\/wp-json\/wp\/v2\/posts\/22108\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bnreport.com\/en\/wp-json\/wp\/v2\/media\/22109"}],"wp:attachment":[{"href":"https:\/\/www.bnreport.com\/en\/wp-json\/wp\/v2\/media?parent=22108"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bnreport.com\/en\/wp-json\/wp\/v2\/categories?post=22108"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bnreport.com\/en\/wp-json\/wp\/v2\/tags?post=22108"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}