While there have been some very public instances of inappropriate behaviour around order handling which have come to light in recent years, in other areas, the market is seeking greater guidance as to what principles should be followed, including the different standards that may apply depending on whether an intermediary is functioning as principal or agent.
While the global fora are working out regulatory reforms to ensure that similar crises do not recur, the members of such fora like BCBS and FSB including India have supported such initiatives as it is realized that there is a need for a consistent minimum regulatory framework across countries.