On 9 November 2021, it was announced that the FICC Markets Standards Board (FMSB), the Bank of England (BoE) and the FCA had signed a tri-party memorandum of understanding (MoU). The MoU establishes a high-level framework formalising the continuing cooperation between the FMSB, the BoE and the FCA in relation to the delivery of the FMSB’s primary objectives as recommended in the Fair and Effective Markets Review final report.