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Primary markets conduct (non-MiFID)
ICMA’s lead manager constituency regularly discusses issues relating to conduct of business rules and responds to regulatory consultations in this area. See also distinct MiFID II/R in primary markets webpage.



General materials

14 February 2020
ICMA public comment on IOSCO’s December 2019 Consultation Report: Conflicts of interest and associated conduct risks during the debt capital raising process (CR05/2019)

29 March 2018
ICMA public comment on IOSCO’s Consultation Report on conflicts of interest and associated conduct risks in equity capital raising

September 2018
ICMA Primary Market Handbook Appendix A12, Pre sounding, bookbuilding and allocations

10 May 2004
IPMA/ISMA/BBA Joint Guidance Paper




UK (FEMR/FMSB and FCA competition) reviews

31 August 2018
ICMA response to the FMSB transparency draft Statement of Good Practice on Information & Confidentiality for the Fixed Income and Commodities markets

20 December 2017
ICMA response to FMSB’s Transparency Draft Risk Management Transactions for New Issuance

17 January 2017
ICMA response to FMSB’s Transparency Draft New Issue Process standard for the Fixed Income markets

25 May 2016
ICMA response to the UK FCA’s Investment and corporate banking market study Interim report (MS15/1.2)

14 January 2015
ICMA response to Fair and Effective Markets Review consultation

6 October 2014
ICMA response to the UK FCA’s Wholesale sector competition review – Call for input




Contact:

Ruari Ewing    
Senior Director, Market Practice and Regulatory Policy; secretary to the ICMA Primary Market Practices Committee and related groups.
Direct line: +44 20 7213 0316