Making Markets Fair and Effective for All
Recent scandals in the Libor, foreign exchange, gold, and other markets have thrown into sharp relief the need for a better understanding of markets and their operations. In June 2014, the UK’s Chancellor of the Exchequer established the Fair and Effective Markets Review (FEMR) to assess the way financial markets function, restore trust in those markets, and contribute to the international debate on trading practices. On January 20, the Initiative on Business and Public Policy at Brookings hosts Martin Wheatley, chief executive of the UK’s Financial Conduct Authority. Mr. Wheatley discussed the FEMR and ways to improve financial market conduct and structure. After Mr. Wheatley’s presentation, Jerome H. Powell of the Federal Reserve provided a U.S. perspective on these issues. Douglas J. Elliott of Brookings moderated the event.
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