Submission from International Capital Market Association (ICMA) (S022)
The International Capital Market Association (ICMA) has set standards of good market practice in the international capital markets for debt securities for over 40 years, and currently does so, for example, through the ICMA Primary Market Handbook, the ICMA Secondary Market Rules and Recommendations and the Global Master Repurchase Agreement. We do not think that these international capital market standards are directly relevant to the Parliamentary Commission on Banking Standards, which we understand is investigating questions relating to professional standards and culture within the UK banking sector. But if you would like more information about ICMA’s role in the international capital markets, please let us know and we would be happy to provide it.
24 August 2012