The FCA has published a speech by David Lawton (Director of Markets, FCA). The speech is entitled Regulatory Developments and the Changing Market Structure.

Key points in Mr Lawton’s speech include:

  • regulators must increasingly face outwardly to the international stage if they are to build and support resilient and stable financial sectors in their own jurisdictions. The balance of regulation for capital markets has shifted from the domestic to the international. The FCA has seen some success in managing this change in emphasis, and the work on cross border regulation with the US is an example of this;
  • globally and at the EU level there are some key themes in the direction of capital markets regulation towards increased transparency, reporting and higher standards of risk management. The FCA is also starting to see a growing role for regulators in developing standards in market data reporting; and
  • whilst the balance is shifting, there remains a significant domestic agenda for capital markets regulation, particularly in the listing space. In this space, the FCA has two significant work streams. First, its longstanding work to enhance the listing regime through a concert of measures designed to strengthen minority shareholder rights and protections. Second, its work updating the sponsor regime.

View Regulatory developments and the changing market structure, 12 March 2014