IMA calls for financial stability legislative committee

Responding to HM Treasury's consultation on banking reform, the IMA said that the new committee should be chaired by the Bank of England, with company lawyers and market users forming the committee. Commenting, Guy Sears, director of wholesale at IMA, said: "Current events reinforce our view that legislation should not be delayed. It is important that the legislation is fit for purpose. Markets will always innovate and it is vital that Government and Parliament are well advised. "Concerns from other institutions that there may be unintended consequences of the new Special Resolution Reg...