On the other hand, they do not want to hinder the development and the use of new instruments and will therefore try to permit as much room as possible so as not to hinder growth. In the aftermath of the late nineties’ financial market boom, new questions arose. The role of market integrity has been highlighted by a series of financial scandals.
Cases of insider trading, of investment banks recommending clients’ stocks against their better judgement, and even some spectacular cases of outright accounting fraud have shaken financial markets to the core. Trust has been lost on a grand scale. It needs to be rebuilt by improving the framework of the markets. Financial markets must be trustworthy; only then will investors be willing to provide finance.