FCA’s Tracey McDermott announces UK Debt Market Forum at ABI Conference
Tracey McDermott, acting chief executive of the Financial Conduct Authority (FCA), revealed today that the FCA would be creating and chairing a UK Debt Market Forum.
Speaking at the Association of British Insurers (ABI) Biennial Conference, McDermott explained: “This group will bring together the collective wisdom of a broad range of parties including industry, government and the FCA, and will look for practical measures to enhance primary debt markets in the UK.”
In the same speech, McDermott also announced that the FCA would be launching a project to assess primary markets effectiveness in general, adding: “Recognising that a key component of London’s attractiveness comes from the Premium Listing Regime, we will consider the extent to which it is able to continue to support innovative and growing sectors of the economy, whilst maintaining high standards.”
Responding to a question from the audience about why the FCA was looking into primary markets, McDermott said that, while the FCA didn’t feel there were any problems with the regime, they wanted to make sure none of the regime’s rules were preventing investment in newer types of business.
“It’s not about thinking there’s a fundamental issue with the regime. It’s about saying actually are there ways that we can ensure that it isn’t cutting off certain types of business that actually people want to invest in,” she said.