The Financial Conduct Authority (FCA) is establishing a new advisory committee on secondary markets and is looking for expressions of interest from market participants to join.
The purpose of the Committee is to support our wholesale secondary markets work in equities, derivatives, fixed income and commodity derivatives. The Committee’s task will be to:
- help develop reforms that improve market competition, increase consumer protection and enhance the integrity of markets
- identify market changes that may affect the proper functioning of secondary markets
- provide data and analysis to support policy reforms.
Secondary markets support the allocation of capital by investors and facilitate the taking and management of risk by firms.
The Committee will be composed of senior individuals in firms active in financial markets, who are experts in how secondary markets function and how they are regulated. Members will be appointed in a personal capacity. We will make sure there is balanced representation of the types of firms active in wholesale markets. We will also ensure diversity of the members of the Committee in line with our commitment to promote diverse and inclusive financial services.
The Committee will be made up of 20 members, excluding representatives of the FCA, and other attendees invited on an ad hoc basis. The duration of the appointment is 2 years and it can be renewed.
We will chair the Committee and provide secretariat support. The Committee will meet on a regular basis, normally quarterly, but can meet more frequently if necessary, to carry out its functions.
Market participants who are interested in joining the Committee are invited to apply by sending a CV and a cover letter to Second Markets Advisory Committee by 31 March. Please read the terms of reference before applying. Members appointed to the Committee will be announced once in place.