Resolution and Statement of Good Practice: Difference between pages

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imported>Doug Williamson
(Linked to The Treasurers Handbook - Cash in the new post-crisis world)
 
imported>Doug Williamson
(Create page. Source - FMSB - 24 June 2020 - https://fmsb.com/fmsb-issues-new-statement-of-good-practice-on-algorithmic-trading/)
 
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<i>Bank resolution.</i>
1. ''Financial markets - conduct - Fixed Income, Currencies and Commodities Markets Standards Board (FMSB).''


The special process of resolving the problem of the actual or threatened insolvency of financial firms.  
(SoGP).


The speed with which value destruction occurs in a failing financial firm means that normal corporate insolvency processes and liquidation are inappropriate for such firms.  
The FMSB issues Standards and Statements of Good Practice for wholesale Fixed Income, Currencies and Commodities (FICC) markets.


As in normal insolvency, losses will be expected for some creditors.
FMSB Standards set out Core Principles and accompanying guidance on the most important aspects of practice where ambiguity risks undermining the transparency, fairness and effectiveness of markets.


FMSB Statements of Good Practice set out clear expectations and guidance on good practice in relation to broader areas of uncertainty in wholesale FICC markets.


Contrast with ‘[[recovery]]’ in which a firm facing financial difficulties is returned to acceptable financial health without imposing losses on the distressed firm's creditors.
''(Source - FMSB)''




== See also ==
2.  ''Other markets.''
* [[Resolution Authority]]
 
* [[Liquidation and Payout]]
Similar statements and guidance in other markets and areas of work.
* [[Insolvency]]
 
* [[Key Attributes]]
 
* [[Bailin]]
==See also==
* [[Recovery]]
* [[Best practice]]
* [[Cash in the new post-crisis world]]
* [[Code of practice]]
* [[Conduct]]
* [[FICC]]
* [[Financial Conduct Authority]]
* [[Financial crisis]]
* [[Fixed Income, Currencies and Commodities Markets Standards Board]]
* [[Good practice]]
* [[Practice note]]
* [[Statement of practice]]
* [[Statement of recommended practice]]
* [[Statement of Standard Accounting Practice]]
* [[Uniform Customs and Practice for Documentary Credits]]
* [[Wholesale]]
 
 
===Other links===
*[https://fmsb.com/our-publications/#3 FMSB's standards]
*[https://fmsb.com/fmsb-publishes-new-financial-markets-misconduct-research/ FMSB database of misconduct cases]
 
[[Category:Accounting,_tax_and_regulation]]
[[Category:The_business_context]]
[[Category:Compliance_and_audit]]
[[Category:Ethics]]
[[Category:Identify_and_assess_risks]]
[[Category:Manage_risks]]
[[Category:Risk_frameworks]]
[[Category:Risk_reporting]]
[[Category:Financial_products_and_markets]]

Revision as of 11:48, 19 July 2021

1. Financial markets - conduct - Fixed Income, Currencies and Commodities Markets Standards Board (FMSB).

(SoGP).

The FMSB issues Standards and Statements of Good Practice for wholesale Fixed Income, Currencies and Commodities (FICC) markets.

FMSB Standards set out Core Principles and accompanying guidance on the most important aspects of practice where ambiguity risks undermining the transparency, fairness and effectiveness of markets.

FMSB Statements of Good Practice set out clear expectations and guidance on good practice in relation to broader areas of uncertainty in wholesale FICC markets.

(Source - FMSB)


2. Other markets.

Similar statements and guidance in other markets and areas of work.


See also


Other links

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