Key facts
- The FCA has established a new secondary markets advisory committee.
- The committee comprises 25 individuals from various financial institutions.
- Members will serve a two-year term from June 2024 to June 2026.
- The committee's mandate includes improving market competition, customer protection, and market integrity.
- Key appointments include executives from JPMorgan, BlackRock, LGIM, Goldman Sachs, HSBC, Citadel, UBS, XTX Markets, Jane Street, Morgan Stanley, and LSEG.
The UK's Financial Conduct Authority (FCA) has appointed 25 individuals to its new secondary markets advisory committee, aiming to reform market practices. The committee, which will serve for a two-year period from June 2024 to June 2026, includes executives from prominent financial institutions such as JPMorgan, BlackRock, LGIM, Goldman Sachs, HSBC, Citadel, UBS, XTX Markets, Jane Street, Morgan Stanley, and the London Stock Exchange Group.
Key buy-side members include Daniel Mayston, head of e-trading and market structure at BlackRock, and Edward Wicks, global head of trading at LGIM. On the sell-side, notable appointees include Kate Finlayson, managing director at JP Morgan, and Eleanor Beasley, managing director at Goldman Sachs. Experts from trading venues such as CBOE Europe, LME Group, ICE Futures Europe, and London Stock Exchange Group have also been named.
Mel Gunewardena, senior advisor to FCA chief executive Nikhil Rathi, will chair the committee. The committee's primary objectives are to improve market competition, enhance customer protection, and bolster market integrity across equities, fixed income, foreign exchange, and commodities. It will also provide data and analysis to support policy reform and identify market developments that could impact the proper functioning of secondary markets.