Bad apples, rotten barrels and rebuilding trust in financial markets

Mark Yallop

Journal of Financial Compliance, 2018, vol. 2, issue 1, 78-90

Abstract: The manipulation of wholesale markets revealed in the aftermath of the global financial crisis is nothing new, but rather the latest manifestation of a phenomenon that has existed throughout the era of modern capital markets. This paper examines the scale of the problem and its fundamental root causes, both those created by structural, environmental factors and the personal motivations of the individuals involved. It discusses the serious limitations in using regulation and legislative measures to cure the problem and an alternative, global standards based approach being attempted by the Fixed Income Currencies and Commodities Market Standards Board.

Keywords: wholesale markets; manipulation; conduct regulation; trust; standards (search for similar items in EconPapers)
JEL-codes: E5 G2 K2 (search for similar items in EconPapers)
Date: 2018
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Persistent link: https://EconPapers.repec.org/RePEc:aza:jfc000:y:2018:v:2:i:1:p:78-90

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