Australian fund to strengthen bonds

16 May 2005

The announcement of a "future fund" by the Australian government has finally put to rest any possibility of an official buy-back of treasury bonds. Such a buy-back would have reduced liquidity in the underlying for Sydney Futures...

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"While we support its overall direction, a number of the requirements in the review are needlessly oppressive, particularly the proposed limits on execution-only business and bilateral execution. Additionally, the swathe of costly disclosure obligations is more likely to confuse than inform customers.”

The FOA's Anthony Belchambers responds to the EC's Mifid review.