The FICC Markets Standards Board (FMSB) announced today that it has appointed Gerry Harvey as its first Chief Executive Officer. Harvey brings with him 30 years’ experience in the wholesale financial markets and extensive experience in the regulatory field.
Commenting on the appointment, Mark Yallop, Chair of the FICC Market Standards Board (FMSB), said, “I am delighted Gerry is joining the FMSB. He has a deep knowledge of business practices, market structures and regulation in the fixed income, foreign exchange and commodities markets. We couldn’t have found a better person to lead the FMSB through the next stages of its journey raising standards across wholesale markets.”
Harvey was formerly Group Head of Compliance at ICAP plc from 2010 to 2015 where he led a team of 50 staff supporting voice broking, electronic trading and post trade service business units operating across 42 jurisdictions worldwide.
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He has also worked as Chief Compliance Officer at Gartmore and before that spent five years as Head of Regulatory Risk for Debt Markets at the Royal Bank of Scotland. He is a qualified lawyer and his working career included spells at LIFFE and the London Stock Exchange.
The FMSB is committed to sustaining the integrity of wholesale FICC markets. Its purpose is to define and sustain good practice standards for wholesale FICC markets and raise standards of behaviour, competence and awareness across those markets and among participants, thereby contributing to the fairness and effectiveness of these markets.
The board recently published its first two standards aimed at improving conduct in the wholesale markets. The standards, which have been issued in draft form for comment, cover binary options in the commodities markets and reference price transactions in the fixed income rates markets.