“Just by the number of meetings they have been having and the discussions, there are signs that this is not a knee-jerk, ideological report but a much more thoughtful and carefully measured study and recommendations,” he said. “They were very careful not to tip their hand as to one side of things or the other. I was very encouraged by the types of questions that they brought to the discussion. They are looking at the key issues for market participants.”
Although the Treasury has not announced when it will publish its capital markets review, Gellasch senses that the regulator is close to shifting into a new phase. “They made it clear that they are wrapping up some of the outreach,” he said.
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