FEMR

The Fair and Effective Market Review (FEMR) is a UK review of Fixed Income, Currency and Commodity (FICC) markets chaired by:

Nemat (Minouche) Shafik, Deputy Governor of the Bank of England,

and co-chaired by Martin Wheatley, Chief Executive Officer, Financial Conduct Authority (FCA)

and Charles Roxburgh, Director General, Financial Services, HM Treasury.

The formation of the Fair and Effective Markets Review was announced on 12 June 2014 with the objectives to identify ways to reinforce confidence in the fairness and effectiveness of wholesale financial market activity conducted in the UK, and to influence the international debate on trading practices.

It is expected the Review will make its final recommendations in June 2015.

The full terms of reference for the Review are available at http://www.bankofengland.co.uk/publications/Documents/news/2014/tor.pdf