21 December – LAWFUEL – The Law News Network – The Bank of England announces the appointment of Lord Woolf as Chairman of the Financial Markets Law Committee (“FMLC”), beginning 1 February 2006.
The role of the FMLC is to identify issues of legal uncertainty which might give rise to material risks in wholesale financial markets, and to help find ways to address them. It also acts as a bridge to the judiciary to ensure that UK courts remain up-to-date with developments in financial markets practice.
Lord Browne-Wilkinson, who will retire as Chairman of the Committee on 31 January 2006, has served in that capacity since its inception in May 2002. LC Secretary.
