high frequency trading, HFT, Going Concern, FRC
Lords take evidence on High Frequency Trading and Going Concern
22 July 2014
The House of Lords Economic Affairs Committee will hold two evidence sessions on high profile and controversial financial issues as they take evidence on high frequency trading (HFT) and going concern in financial reporting.
- Parliament TV: High Frequency Trading and Going Concern
- Chairman's letter to Mr Martin Wheatley, CEO, Financial Conduct Authority
- Mr Martin Wheatley, CEO, Financial Conduct Authority, responds to Chairman's letter
- Select Committee on Economic Affairs
Witnesses
Tuesday 22 July, Committee Room 1, Palace of Westminster
At 2.30pm:
- Brad Katsuyama, President and CEO, IEX
At 3.30pm:
- Sir Winfried Bischoff, Chairman, Financial Reporting Council (FRC)
- Stephen Haddrill, Chief Executive, FRC
High Frequency Trading
The first session with Brad Katsuyama will focus on high frequency trading. The Committee will ask questions on the following topics:
- Whether high frequency trading is beneficial for investors
- The opportunities that HFT creates for predatory trading
- Whether HFT has increased volatility in financial markets
- What regulators can do to monitor HFT
- Whether as a consequence of HFT, it is fair to say that stock markets are now rigged.
Going Concern
The second session with officials from the FRC will focus on areas including the following:
- The priorities of the organisation
- The recent proposed changes to the UK Corporate Governance Code on risk management and going concern
- How the FRC would respond to criticism that FRC proposals on going concern will undermine the rationale behind the Sharman report recommendations
- What the FRC is doing to improve International Financial Reporting Standards as they relate to bank audits.