Foreign exchange says goodbye to self-regulation
With a global code of conduct for foreign exchange due in May 2017, participants are only too keen to see the back of an unregulated market
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The foreign exchange industry is rediscovering the might of the c-words, also known as the codes of conduct. Following two years of intense regulatory and public scrutiny plus some hefty fines, the effort to tighten up standards of behaviour around the globe is moving at full steam.
Market participants are involved in a multitude of conversations about what should be done to ensure another scandal such as the WM/Reuters benchmark-rigging saga does not repeat itself
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