FICC Markets Standards Board (FMSB) Appoints Gerry Harvey as CEO

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 Regulation Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Read this Term 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.

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 Stock Exchange A stock exchange, also known as a securities exchange or bourse represents is a facility where stockbrokers and traders can buy and sell securities.This includes shares of stock, bonds, exchange-traded funds (ETFs), or other financial instruments. By extension, stock exchanges can also provide facilities for the issue and redemption of such securities and instruments and capital events including the payment of income and dividendsStock exchanges have developed into a permanent fixture in the fin A stock exchange, also known as a securities exchange or bourse represents is a facility where stockbrokers and traders can buy and sell securities.This includes shares of stock, bonds, exchange-traded funds (ETFs), or other financial instruments. By extension, stock exchanges can also provide facilities for the issue and redemption of such securities and instruments and capital events including the payment of income and dividendsStock exchanges have developed into a permanent fixture in the fin Read this Term.

Background

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.