Jointly with the Bank of England, we have signed a Memorandum of Understanding[1] (MoU) with the Fixed Income, Currencies and Commodities Markets Standards Board (FMSB). The MoU sets out a high-level framework formalising the continuing cooperation between the FCA, the Bank and FMSB in relation to the delivery of FMSB’s primary objectives as recommended in the Fair and Effective Markets Review Final Report[2].