The City Revolution - Remarks by Mr E A J George

Quarterly Bulletin 1985 Q3
Published on 01 September 1985

Mr E A J George, an Executive Director of the Bank, discusses the changes now taking place in the financial services industry, and particularly in the securities market. He argues that, while such major changes will necessarily involve uncertainty and risk, standing still is not an option: the question is not whether change should occur but how best it can be managed-a task which will require measured and detailed responses from both market participants and regulatory authorities. Mr George then reviews in greater detail the management of change in the gilt-edged market, in terms of the Bank's proposals for gilt-edged market makers in the new structure of that market.

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