Mark Carney, governor of the Bank of England, proposed an approach to financial markets regulation based on a closer co-operation between the public and the private sector in a speech in London on November 29.

Carney reflected on the behaviours the financial crisis uncovered in the fixed income, currency and commodities markets, and pointed out that in these markets “misconduct was revealed on a scale that impaired their ability to function fairly and effectively”.

“In a system where trust is