New rules on fairness and transparency for the distribution of illiquid financial products have been announced by Consob; intermediaries will have to comply with them without delay. The independence of asset management companies is essential. The reduction of conflicts of interest must be furthered by a self-regulatory code of conduct that strengthens this characteristic.
The Canadian dollar has jumped from under 64 cents U.S. at the start of the year to over 76 cents at the end of last week - an unprecedented movement. The Bank of Canada has closely followed the economic effects of all these events, including the rapid movement of the Canadian dollar.