Investors warned 'painful' effects of less liquidity looming

Global banking and financial trade body the Institute of International Finance (IIF) said liquidity is the "top issue" at meetings among its members, the Telegraph reports. The amount of liquidity in the market determines how quickly investors can buy or sell a security without moving its price. Big market swings are likely to follow a period of tightened liquidity, the Telegraph reports. Timothy Adams, the chief executive of the IIF, said regulatory reform enacted since the 2008 financial crisis may have also left banks less able to respond to the next crisis. "There's just les...