Arab Today, arab today british finance minister announces review into operation of financial markets
Last Updated : GMT 14:27:38
Arab Today, arab today
Arab Today, arab today

British finance minister announces review into operation of financial markets

Arab Today, arab today

Arab Today, arab today British finance minister announces review into operation of financial markets

British finance minister Chancellor of the Exchequer George Osborne
London - XINHUA

British finance minister Chancellor of the Exchequer George Osborne Thursday evening announced a joint review by the UK Treasury, the Bank of England (BOE) and the Financial Conduct Authority (FCA) into the operation of key wholesale financial markets and a bid to raise standards of conduct in the financial system.
Osborne said in the annual set piece Mansion House speech to leaders of the financial community that there would be a "comprehensive review of standards in our fixed income, currency and commodity markets."
The Fair and Effective Markets Review will be chaired by the new BOE deputy governor and former deputy managing director of the IMF, Minouche Shafik, said Osborne.
Osborne said the Review would produce a report in a year's time, and some of its recommendations may require international agreement.
The Review would also consider feedback from a panel of market practitioners, chaired by Elizabeth Corley, chief executive of Allianz Global Investors, said Osborne.
Osborne also highlighted the growing importance of China to the prosperity of the financial sector in Britain.
He said, "Chinese bonds are being issued here, Chinese assets are being managed here, Chinese banks will be able to apply for branches here, a Chinese clearing bank is soon to be appointed here -- and next week, when the Chinese Premier visits, we will take the next big step forward in the economic partnership of our two great, historic trading nations."
Osborne announced that "in the next few weeks, subject to market conditions" for Britain would be the first western nation to issue a sovereign sukuk an Islamic bond.
Osborne also made an important announcement for domestic economics -- he extended the powers of the BOE to cap mortgages and to limit the size of mortgages in relation to household income in an attempt to cool down the market.
Britain's housing market is in buoyant form with some commentators warning of a bubble market which could damage the economic recovery if it burst.
Commenting on Osborne's plans, Mark Boleat, the policy chairman for the City of London, the authority covering the heart of the financial area of London, said, "Trust lies at the heart of every financial transaction so it is vital that markets are seen to be fair and transparent by all participants. Market abuse needs to be rooted out as recent allegations involving LIBOR and, if proven, the foreign exchange market risk damaging the reputation of London and the UK."
He added, "Effective regulation and high professional standards are a competitive advantage in this globally competitive industry so we will await the outcome of this joint review with considerable interest."

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today british finance minister announces review into operation of financial markets Arab Today, arab today british finance minister announces review into operation of financial markets

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today british finance minister announces review into operation of financial markets Arab Today, arab today british finance minister announces review into operation of financial markets

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today A no-frills business success

GMT 07:00 2017 Wednesday ,20 September

A no-frills business success
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Israel sees benefits in independent Kurdistan: experts

GMT 07:58 2017 Wednesday ,20 September

Israel sees benefits in independent Kurdistan: experts
Arab Today, arab today Saudi Arabia to unblock internet calling apps

GMT 11:31 2017 Wednesday ,20 September

Saudi Arabia to unblock internet calling apps
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Ministry seeks to improve education

GMT 14:49 2017 Sunday ,17 September

Ministry seeks to improve education
Arab Today, arab today New Zealand opposition looks

GMT 10:35 2017 Thursday ,14 September

New Zealand opposition looks
Arab Today, arab today Puerto Rico, Virgin Islands brace

GMT 12:01 2017 Wednesday ,20 September

Puerto Rico, Virgin Islands brace
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Five trends at the Frankfurt auto show

GMT 12:04 2017 Monday ,18 September

Five trends at the Frankfurt auto show
Arab Today, arab today Renault-Nissan to launch

GMT 10:44 2017 Saturday ,16 September

Renault-Nissan to launch
Arab Today, arab today Horia Farghaly happy for success of “Case G”

GMT 12:14 2017 Monday ,18 September

Horia Farghaly happy for success of “Case G”
Arab Today, arab today France hopeful of persuading Trump

GMT 06:21 2017 Wednesday ,20 September

France hopeful of persuading Trump

GMT 06:31 2017 Saturday ,16 September

Eman Al Assy receives three offers

GMT 05:05 2017 Tuesday ,12 September

Pregnant woman's suicide roils China

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 19:18 2017 Monday ,18 September

5,000 'Dieselgate' deaths in Europe per year

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 04:26 2017 Wednesday ,20 September

Opioid overdose deaths take 2.5 months

GMT 11:40 2017 Monday ,18 September

Russia and Iraq restore air travel

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 12:56 2017 Friday ,15 September

Apple's grand plan in Ireland held up by a forest

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday