LONDON (Reuters) - A British review of conduct in currency, fixed income and commodity markets won't impose uniform remedies but may introduce new rules, a Bank of England official said on Tuesday.
The BoE, British finance ministry and the Financial Conduct Authority are conducting a Fair and Effective Markets review after banks were fined for trying to rig currency and interest rate benchmarks.
The BoE published responses from industry to its consultation which showed market participants seeking to avoid new regulation and emphasise strengthening industry codes.
Andrew Hauser, director of markets strategy at the BoE and head of the review's secretariat, declined to rule out new rules.
The review will publish recommendations in June and Hauser said they will be in "full recognition that targeted regulatory interventions are also part of its toolkit".
However, they will also recognise the different ways the three markets operate in.
"There is no intention to impose a 'one size fits all' solution," Hauser said in a speech to be delivered on Wednesday and made available ahead of time to the media.