https://assets.fnlondon.com/2013/09/4072610255.jpg

Mark Hemsley, chief executive of Bats Chi-X Europe

"As we approach final negotiations on the structure of Mifid II, I believe that regulators and politicians should reconsider the implementation of a European consolidated tape, otherwise Mifid II will be a significant opportunity missed. The consolidated tape is core to a rigorous best-execution implementation, a foundation for cross-market surveillance, enables cross-market co-ordination of events such as volatility halts, while making available trading data of all listed European firms to investors at a cost-effective price."

Financial News asked senior industry executives where the regulators should next concentrate their efforts and why

https://assets.fnlondon.com/2013/09/4072603871.jpg

https://assets.fnlondon.com/2013/09/4072610268.jpg

https://assets.fnlondon.com/2013/09/4072603892.jpg

https://assets.fnlondon.com/2013/09/4072610280.jpg

https://assets.fnlondon.com/2013/09/4072603895.jpg

https://assets.fnlondon.com/2013/09/4072610817.jpg

https://assets.fnlondon.com/2013/09/4072610804.jpg

https://assets.fnlondon.com/2013/09/4072610819.jpg

https://assets.fnlondon.com/2013/09/4072610518.jpg

https://assets.fnlondon.com/2013/09/4072610771.jpg

https://assets.fnlondon.com/2013/09/4072603851.jpg

https://assets.fnlondon.com/2013/09/4072603758.jpg

https://assets.fnlondon.com/2013/09/4072610823.jpg

https://assets.fnlondon.com/2013/09/4072603760.jpg

https://assets.fnlondon.com/2013/09/4072607588.jpg

https://assets.fnlondon.com/2013/09/4072610719.jpg

https://assets.fnlondon.com/2013/09/4072603764.jpg

https://assets.fnlondon.com/2013/09/4072603812.jpg

https://assets.fnlondon.com/2013/09/4072603859.jpg

https://assets.fnlondon.com/2013/09/4072603855.jpg

https://assets.fnlondon.com/2013/09/4072603857.jpg

https://assets.fnlondon.com/2013/09/4072603820.jpg

https://assets.fnlondon.com/2013/09/4072610698.jpg

https://assets.fnlondon.com/2013/09/4072610276.jpg

https://assets.fnlondon.com/2013/09/4072610696.jpg

https://assets.fnlondon.com/2013/09/4072603810.jpg

https://assets.fnlondon.com/2013/09/4072603814.jpg

https://assets.fnlondon.com/2013/09/4072604197.jpg

https://assets.fnlondon.com/2013/09/4072603762.jpg

https://assets.fnlondon.com/2013/09/4072603816.jpg

https://assets.fnlondon.com/2013/09/4072604195.jpg

https://assets.fnlondon.com/2013/09/4072603756.jpg

Views from the Top: regulatory joined-up thinking required

David Thomas

Fnality CEO Michelle Neal: ‘Banks are open to integrating blockchain-based payments’  

Trump tariffs: Hedge funds short luxury, financial stocks 

Citi trader John Nihill joins ex-Brevan Howard portfolio manager’s hedge fund 

Trading Places: Barclays hires new M&A boss, Julius Baer restructures again

https://images.fnlondon.com/im-329118?size=1.5

Find out who is on the move in the City and beyond this week

HSBC hands Blackburn top risk role as shake-up continues

https://images.fnlondon.com/im-87995472?size=1.5

The UK lender has given the leading compliance job to a 20-year veteran

Barclays hires Centerview dealmaker Woeber to lead global M&A

https://images.fnlondon.com/im-71578134?size=1.5

The UK lender has tapped a veteran dealmaker to head up a key area of growth

Several big law firms are discussing $500 million in pro bono legal services with the White House to avert restrictions on their business, people familiar with the matter said.

By Emily Glazer, Josh Dawsey and C. Ryan Barber

Latham & Watkins, Simpson Thacher Near Deals With White House

Treasury Secretary Scott Bessent helped persuade the president to take some time and negotiate with trading partners in the face of pressure from business leaders.

By Annie Linskey, Josh Dawsey and Meridith McGraw

Why Trump Blinked on Tariffs Just Hours After They Went Into Effect

Generative AI is going to reinvent virtually every customer experience and enable entirely new ones that have only been dreamed about, Amazon.com Chief Executive Andy Jassy said.

Amazon CEO Says Generative AI Will Reinvent Every Customer Experience

Carney said the 90-day pause, and Trump’s pledge to negotiate new trading arrangements with dozens of countries, “will likely result in a fundamental restructuring of the global trading system.”

Trump’s Tariff Pause ‘Welcome Reprieve’ For Global Economy, Canada PM Carney Says

The BOE said that further sharp falls in asset prices are likely.

Bank of England Warns of Tariffs Threat to Stability of Global Financial System

LYjjQVWxYaOpb+ASepbgNK0h1mRrwWKbLsj1B7Ba+dF8QGM89578lfQS/sm0CJG+e1ANTfYCjx9F0FJfVP1KBDmCVgMQhZTXdgv5ONh9M3RhZBDP3Fg1mEvToscRzaQm//IteZ6vfWO8bo1PanWGBQzmJm69elaZE4sj06twdjKu7N38gJR4K3aUFvOW36e5sj/cxEYxvqvcCVkDk6WHb9/4fyzN1btYjlpA8+y021apEj1bNYzYJrIlPnFbb4lNz4gRKO4x2Kt6XxQvvfHR3K3hasOjrHesupzVWSxpyDBqxYosa7UloQ7rafBgC1Z+b/0NVZHrFZGfVelIexp5Z+ClbOv4tJ6fXQ7hC443fdLN6a/jyRUUWnEjB38WwPUvqwJ9maNFtmr5duPPKjBGKMGE3sxVbil9oAjiTh5oL0+LH4j4CtDpsnOExpkybJs5kfyI/zvm/4xwwQ+Aby9cODRwX5Him2su+r/b0cvo8TGI/LjJHTkYQA/BdlpJ/dqcCXifY+hxoU0U0aepk78qw4nAE97dTy2b/1w4chjQVca3MqDmYgL0MC3gjcTfYm4g/jfl3QrczzN59kftlvBqgKrzvhV4INrnqCjQgQ+eCpnixRMJrQh0mbbvCctAhb4OXOLCy3aXKY8IV5oavZpofPedC9Z70NSWVZ5gcac+iIdDUkDYifxri3gdIdWkFG0X8wxyIgn8Co3foEZ1JkdUdxUDlgctikE3O/01HIfnYrtV4U9GZJiOGZhUBz7V+Hb9SA6yvWrGRM/Ligp8qTtfBWZbUWByO+BUxZ6P6QdsYBpzaYfDBafN7uOCMB1kk+KxyUjkc6VIwdp+UJiWmZZqGnYVF4Yp82Bownl5xnwGDdcPcNM5qneuXjo81av863uc97UDH+KnDi4/ZdafMt6hkSCdWlutgcAOBY3CVwAHNrplCXaPUYdHeYDlgeo0k3Sw/RmNgKcjc44T8BqoRrN/ryGckjHCC20Trbn7nVs2a6RiFqG6pVL0Rvn/MoPtoeorVjUpTgTd2u5lNo/V4C3QgOWwJeXa9vUdN/Cpcz1hoXag1L9C+PH1eYokFOQzKwSsLLeXRRW7At1DBdVW2hhDsIIvFDD/S059eCEQNqUOUjHOEuapjdQ/OeLUPhLTxZ8Tbs1S65USSczhwMtbkEv3H03+x1RSZ9Ok7U2ApX8nIVoT5vnUP7LXmZzlhft9ajUIM+Cys8BLa4ztg8sULnQk2MHbBW5IhVCbjJM6bRocW33NDvG91nLYAwnBZ+9zjnL0meoF0ppJFLWox3nos21FMrkXVndftT7N09dBYhru4OUInE6ww12b1VMbMwOfUNdjU+teOEgfeVB5WAeW2xPwlBWqNfuxd9fPHXp/fddOIP6++RHZtamld4LzMzS5fpwyttuWZb6wV7HwY7rGM7QqJZcIf81PWWZn4amOEjfKVFxGMyTRax88CoQrST0ff4xd/+PM4W/waaLW3qOQTAMIgR2QMXT5j8t4Y2ZAcEu2E/CTGvE7rMH5csbsYWxY8ExFC8P4KUgAj/GT846ECz3duoihDMEqbppo5NvYSO9jHJPLGX7t8nQfUuBV47yGBD/xyt5wBxaniQ+zfcI2CVJZSZHlv5wJirYWGEBlHSDP15AC3pZ/NWK+K9G+mZiN6v41Fowcmgim/4Gh/vyKyRhlUQSd7p/nSECCzdx4XUx6wn5FgjTModzTnHAAEMDDqfKAg1o0CeE5UdTGKM1AvOQtVyPIUjHQj72aDLlf7Zee7uwynyeFyOAtBmZSQ3jPRaPmNniyhamHWl7N2RSPHNDmJCFbns5nLqAOJze368Nh1c5RVp8QnHVv24UW8r/C2W+SueWmXSFBnbdKu64UWBfDesnsC0VlvEUw25RfYs5/BoJsKGDEcUVOe3o/TZS15KUPYl2CmZSCWe6KOnQZgfY0MAa7M4Lf8u3gPwUCdqHm3ruxWjq7/tj8fb1XLa3gv64lyzMqhWxM/sCh1Dc6TzCjX2MqRH4XsijwcX0QMAd9xcJNrVhoPIhystACkwtrcDNbLNRktW+1vaDVdGO+qz+xxwz4tNwaPLHqIGtI7OPHSnr5DsNvgZXyIfme9WD4Vw84xsksO2mwEc0LDyXTPQ1iuEl4he7sFJaQJ6g36c8AUuIHQspNOzLWUn45rkRb0hV6gZsaJVFLY7/mZHd0LtgTIX6g6t0mg8e7EwbZTyChY6hEm5IxRTZAOuJ1Kzxavx83mKaiIlcnV37DEccO6tX0bF5MFxPkl9NbVbjatBDRhMb9AhBYxm7ufYo/vgv/W55DyCiM1Z68TWQEnt9KXquULO355wfUBNUlgcclsqzDozPNqQds0KgIoJmWMS0U7mvpfDSJKvZIJ38q538MDWQegno5jHSGODaMn0Pv4lTiRWp/BgpiI1AxTyklbcQEzzjXaA7VFS33rRyfwrCVqPsIAG3hfrjK0qX1r6l/qGE82JSDN1sHg8yYaVM56A7th+1nqZ9vR8QVKIZM3Go0tF+8sPMPVq88PvW/3kGapWFDbHAdcnun+6ZiJqju6xw6X1RCvQexc+nwpnl+LMWd6QeTlijBB2jsUnnD0bX5d+3pGjvLMmONAt2D3ejFbgfbxSw6r47Ani7a4o3cZqRoyuh4IYypRE/0jQpgTsTG0VdXvEUVCujRqwJ/c9wKbqvNqGcn0dW+IYOFX4WYDZ9TabulIHaLrvJ9VPpo0D1oh5gtlzhlM0EBlG9D2uCX1MQImeLPihznX7z53ZfKWG7uwo/8FSoGiS5dfOeUZqL/fRxTF9wdG/l1J2giyngNBoQ7lpWewesUv1M93NCaUIzl84yqsnAY9F5o3ppEARlnbrytV/vBhm6QkaiTJCeOl4CEdgJ1It3uGM2CNFa3R1+3lP//njeGWp+GNmzFWGQnoC1zdO9Ultud/hFiYe2iJb0ODHmeGkr9741wGPxBxj9qitsiSy+RIEj/F7voB7wtwuify/fXh/bttUZiTlDuh30dRinXectkgYTsmWo7wzH1ZRXcmeyQmnVZnWKiGss+POABNBeZ8bNDkh1WjdKLsqX/YAh734cQJUtrYCnOHRSL7mN+6Q4MC+ECPLw66Zp70qQZ2WQSFzLlNXObd6g3wzTyfXZP7p7NhgQFuOqxKcxtJH2ZGy53rBxNZJL/gaYYgftuTu+dmdFIC5jMkBAgManTHSUOILg9yGaP/TUSoV/A3Bb9c2XRbqR/llRVRT0MLM/cvtvZ6De8qSgmscWTaNs+elgCSIuxnu33zXQt7qiTojoZ9cJfoUDZOLKSd0t/1Y3K+r+tevyFhQYYGKPwTzi6aQ8T0nbNg17AU/lgf8wM0pAZcRQD5iB7kw4tioGlMAg4u+j0sdDzItb9Q2QYm8UuM9tNDtn69b/wqawAFiZHHesfqJGlqvoh7rjr4jxVDrWBSTwcha1UpiuBPNhj5k4I3b1WVmLWgpts8/E2f6W90uXWXKOpm6zuDkaPNQOXtmgfprRwuGO/rg0v04zt2VTAQQJkN1P+Kc6J4LVji4HrnR3XnTfepIUvEuOQDbkqqjxKijnL0FxvNjwGgO/WOTSohpaslUzVRZbOQghzIPH2RcWgEg0cr3b+/P1IiDOaGwcPZrXdf4qXfhK/0Sbp4Mdxe8Dt+990gUDuedX0e+vPTbiAVu/Yx7B3WLi8awbEEGkNmnPDFtBPpcRBw+tj68RfSQ5zJCGWHJL/Yl2N1Vdihfei/LTUgOqeQKYfVNthtZJ2F2aO9zKtyCqlQPi2H4M8yXlC7iCZiTWYa8lgOQk1J8YjskTBoLyWhGh3ZC1LF824ygu5Fjq36fZjy8ydJ3fOU+E8bzdIiDOvp1E618gGhZIDqgqrnbyavjDoYGB5kTg4Ac/ZroXOfRc/n5I1+q9+JP8XerW912pIMb1jYKzH418FrOyOIx7PLgwxRtfNnLVK/zQVw2KkueXcvRHYaG/IjzGoTCU91MAEQF/O0d02NFYayNJYtXzLrBrQaslC6D+yh0g2dg2YlUqagV6lLMusyT1u6P4bePVjM4O4H8hMIYmNbb25tZb3psbrfrqRtQxGlQ95+31Lp6re/ynGK8IKhRMn2k2uAUpJdgX3266sqlreXTWoX7pqMQ6/KHnRc3c2xfh+pctcdvuoNsG/Y2Yj2ZqrVFlYB3I4BREv8mdde6nxUhQrvbutsJkvGptZsHjXGkK8MtKaWmNAvF4qgN7p4nXeecFJH/St07fYhcBmwSkF14JnG8rcx+xTdZdyTw/tPknSyVtUgdwE4jsvevzqMlg5ADLE/j/Va3WgSJs0084pwXp7wvLhBGmSQH6pqHjNrndYlLZPEiXWY41+WrJsmt8wOqAQGpHIsl6AOpns3gzeXK0qr2MOtqk04FQjdWxnBcuQYRwzF/nOlMtdHdzKOVAjF1S3I5/XsYGsADv1A8dQ75xHXMVQ4MuMeEpgXVup8tRTkvmv8JV3uRtxp+k/GMWYKRIbcZKrHVbmMguRjaJy6W+9NgoLX+ar9YmmK/j3nocSiDONLg3XicHz6k68GEQRyJd1Sz/c5rp7jsJ9EH2oW4eFW88fFFFnuAWxwyiM0OuCXdiAcrpJXJNSP858NHh+BKkkmREOFosYX2f1ut95tp4CLVEPe0QeIPQxX9MXwYMMyqM7lGUfNPxZzUg7yzC73fbZaxJBKlssO+ad0zbQjyd3Z3bDlrMN6FHj+YIZAm8r7PzuJGVyKQWasv91vkiswRub+20+0frS8tTBcvdOYVWDVeNjraHfXrtB9SUM6zuCW4TTNgpYuxnVEh+7UENyaOKl6G9W7NaSSOm8qdBwglJUlEsHc+sCR4fNoR7QEn0/dXrS/RGccKer1FM3MHG0Xx+mV9Ts9g8CLTXouksfiwHPi6wsXkBdq9npW1lG5QIUgtCeilLWPmPSVHuwCAYMKgoZcwlnSPk0K5IxYStBbaNJzxstzNy92JEX0DZ8CBdSXUxZhCGP9E+un3PkzGQ2L9vyMX09fmPxvbdeSZ21pP9Vfr8CtVCA0bFHDPzl2UYaBjWDJIjDwBY9gKv2U1kFvZYdURVaEE94y1UQK8AKaAzeZAjgqYKieizUzn1j7GjHWHERPEyqy/X+zVirtYXL9/urPnMrQ+N7LVOWWYvaCEUic15VIM3tioL9E1ROEr5B/Dm2qudXEul6KZ9oYE2/PT2GnU8kdLr24HdUpyIBH3JgSKF2AtpPNKrOt+TZyH93R2TEBxCe+F0HSbrWCf3yvgrJbzQpRHhBM6Vn/B3SE+D/TjZZlsdex7fkyWgIAhyNO1U7pIHcib/e6G3dGXVCml2TLCXI3NORKwjAYzad8qNXX8L/SL108DhOzVXRtlEPjfNsN924uIYDKAwku3rf9IuTJRJJlHaSL//fslBHa5yq5+5QTUkjH64XwW+aq6gqlAHvrDvycppYlYXJTEMqxPAEQe1r8B5zERrZSWN7m5Q/DVZTlh6HWfk4qDx+xRhQEWfW5aklQww0eFkQCOmQkG+QHGDLtCV0Fwh68Jgh2lwTS5g7wv6StQJ+JGvY/uygZXF+BP1zHlvOAjsnEPTys5vo80RdS52QEzg4z3xtVgoIj1VWfpWk/6nDK4OvUguWMkgR9zS4Asl9TZ5OMrroWwTeY9OWfKcYa6KXi2ax/GjQcL60d2naK4LaABFPG+q9Bhu/VlQHY4Ejqj+x5VnKsFMKFKusR4ZD1iR5uB0pRPTad6eRwEH01KtfJSHy4to4hU5DMCPfQ5cEprxIlghn3qLz/Jo1m9utBJmimaLtBZd/DCJy9s0ARc7QcIdv8Joxv8ccooNfRZE+8tIPIrezHOAhjhkPwd2fvpbwKbzxySJXWVEUAF0k6XgZq40odHLBscDX1MEpAUlDz03BnccMqk5xWBjt1IiHF6foKiy92kh1lgKG6HnAdus0dFswDyoQc8LUjrkJrEOpLOqp2l8Izk3XLNJDNzAkvtuMi2XLuTMde5ekgp6IRQk2fIwFCYo7UuOj5t+KRjw2zkK+/4gwUPbfp6foo2POpqQWptHYJqqgU7qWN9GOQe2CZamo9kDGaKTe/pREov6n4Ru7Sk1mlkGyRWHhbJvkA+YxEz4ctqeFBvS6agH0SHHAMF19a2SCxXg/pZJBjDGg23hG1upHel88wd712TITDQtE8FJvyQleGEV4eiORhKIHvugifvT8MUBaiLKjnRg50ByJYaNtep5pmfKT5qEcWGl1T45hF5ffauvwUBFZ12Twg9HiH37R/cneGfL8481vQ69F1ZdyOtVdfYeEaeZtJ1KJ/0xk1SLcgy28nK0Qg8IqNH2ASE781Nb0zWsjcSl0l42SXSqQeBVauIjgcpl+bOHCH+ns4VgdbecaBP66/iTJNr99Ih0dMqaRZgHC+F7ph/8QOlij8wT0SPiUWI4zjoMmGyyt52UR1MXgZduBBYTc4Lqe3f+XIyUwSJV+iPAJI5OdogfLBBSV+OXlhlsWytKSqMZqEMr/QgO1sWDiKBZoe6+zX14HnfCtCKGSbAAa9DbjiNmDJ7FRQhAKHDnNDviU0PVmfQ3TZzlHxKwBT5J8gGqnschUkdtkLyZb+TW6fDtACz4oWViLzQreRK9eWSYeApCYoD0mdtNTPdg2VqJF3iX1NnBvD2NuZpMp6GKGzMNk18etr/odn6Xy5FJXyzsgl18P+AbFHW60xeHqlzysvy9S1tS5qAXZp6J1em91Kf9wSVw7KFy4ZMib9PFE1cWl23HPbCyi2qzwOw2faS6Kqb0whC1nrVNW+kjJi1TB32TcPK4H9tTzN5NP7Q0CoE5ssXxXV4+UTuy6i9TV755ubzjIBSfwaJzWi8F/Y9hQXWWT9tk5esU7HGvnMp69CiDATwmMziVM6gJSvVoF5kPBjJUXuh78Imxs9AJJTzuRBjImeTxuOtgqjN1HqR940qtxgKiN1fespCFPKfQ8YW2B2OhQxTlxKEtQ6PG2X20ML44RQs+efhnGRSO5npFxhl+uoZDBkfKt19WNIxTC7G0ymAL5ftV1s1e6/w8YB5Yb72YmXz/vn42qXRnu+hVG46QzNwZGkT2vmedRoftj3uvNKMhIHRrgqncRkKihui7MpKtzExMTynricK7Jxd9BO6doc6glq6QYl/I/FHTtn/RKLiNsbLWcfu/rXCjD4fptZTsqP6O1v2puPlz7u3sQQj0PChSaB6av1mrNaMOAskTlEXWcg5DGVRWL5W6GIGzbYaAlY8C+l52vxhS+Vaa7iWK0kpru7WS50kXOdqE/hxb2VsZTDV01nWeRj5+zCoclPEdL2qY1h/bwGmGesU9dmOCkMfaQKe1VVYt5I6a1gf4YNTTjhZC5WubCbhc5konuHsb3cISlasS1H1TBxn8aov2+RK8U9yiFITtLqYQdsZvsr0kB9jjvCwnBrKbHDQyqVJnt+dMwjg0gdxjNmOgnG3kI/emYiJW5HBW7kSObdN1FByf6v6Yhh6CBCCu2FyZrPNRhb48BWWv0vcPRwRruGOOb5c0GnUz5CNPI51ZTXJ6u7KcdDE/7zQLJ43yrKYfXtIvf6iuwFqUYE9UC3N/Bdg3jzz0AR8BwCJMvz6H1xtr4B5iB8Ifz3XgeVTavNykjKPAA1QmPghGbrfBfI+6+YQtWbv/WD0jLJXK9ETssCQuSm4Z0sDcFNTtfZj+/3e3izwVpuW3qmWYXcnlTL+o2JC1NrZhAl4wfUMpzySnd2dY1RO4TZM57/Jv9czqV9KOftienfhhlzXo81sfXEDD88GHUXgKQB5Iu7Qqt9Jr/kHqzeg9DUwR6TEM+K1iNXt8tQn4NHNXu8RN+0vgtADBaKrG317+9hesbhGUzRHO5cvdReKoTUuLOmvUSoKZhWjH5eE7tdpfnAqzElhErddqYhLauKqRoMcfkQIlfuXEpATUrxSAe2a1QbE9pL9NXCXNZX1RgmB523zME0PpmwTznz5VZs/QADxnb5WEDs7WIjH17+zAH0rw9B324I5U0TQs+HKegHcqgPH6UyHab+gf/2djM515y1+zryN5Rdvks2oK20vLNN/O0CDerTBnOH22GAGf1KgzlfA9epsZPXh98H1fQ6MOEBXKI4GBZhPqmePPNlPP5uzDxSap4HkV3cErDy+b8tNoqVImRZn8P3T6lyMxZAuHin+i7Bj5HykqhDzSXRoA9TgrOlpi9bHUc+waDVIhtF26llLzS2G4ZJYnmwx926CWk76PLbxGLsmu6koHPcLwWgmRFk/DHBaCOxm0TRxK2/v8sxaJHJQbSEzGpj0jdWRDOnr8FapOPtm1EZOWuaMK2zTwD8tnRUOVRUR/jWTro9EJ5S4Ct1wYEvcRnPr/TYRE50PDNLW/+yQ7LL3iuu8ygl3cGmKjc/VEW1E6X/6xiNp9SfVldzHxldnbHXpUNuRe4cf7uF2+I3WDH5BllpzZtTZoXfN4xsB+5jIgyitPRXDgNnUlai3YQC00jXKkQWuAJuBpkZH1DT/KrtiuZCvMyabR+YsE+Ai5F46mfHDW6yTput5pYyszw