BIS has published Governor of the Bank of England (BoE) Mark Carney’s speech from the BoE Open Forum. He discussed the low level of trust in institutions and market mechanisms as a result of misconduct and a perceived lack of adequate client focus. He addressed the need for banks to adjust and maintain their business models as Basel III would be the last wave of prudential regulation. Mr Carney also identified that asset managers need to innovate to adapt to the new realities of market liquidity. (Source: BoE Carney – Closing Remarks to Open Forum)