Former UBS Banker Mark Yallop To Head Up New FICC Standards Board
Posted: Tue May 10, 2016 1:54 pm
Former senior banker, Mark Yallop, has today been named as the first permanent chairman of a new industry body in the UK to clean up the financial markets following a series of wholesale market scandals, including manipulation of benchmark interest rates and foreign exchange markets.
Yallop will lead the Fixed Income, Currency and Commodities or FICC Markets Standards Board (FMSB), which was set up last July as part of a series of measures to clamp down on freewheeling financial markets. A number of banks have since been fined billions of pounds for trying to rig interest rate benchmarks and currencies.
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