On 20 June 2019, the FICC Markets Standards Board published a transparency draft of a new statement of good practice on conflicts of interest. The main purpose of the statement is to provide fixed income currencies and commodities (FICC) market participants with guidance as they consider ways in which to identify, manage or mitigate conflicts of interest that arise both: (i) specifically in connection with their FICC markets business; and (ii) more generally across their firm.