Debelle swings at ‘buyer beware’ disclosures in FX

“They don’t give you free licence to do whatever you want,” says new GFXC chair

Guy Debelle
Guy Debelle: “It needs to be demonstrated that the code is working”
Photo: Reserve Bank of Australia

Guy Debelle, new chair of the Global Foreign Exchange Committee (GFXC), has warned currency market participants that hiding behind ‘buyer beware’ disclosures that suggest customers are ultimately responsible for making poor decisions is not an excuse for bad conduct.

“Personally, I am particularly concerned with disclosures that take the form of ‘as long as I warn you, then I am going to do whatever I want, when I want, when I am dealing with you’ – what might be termed full caveat emptor discl

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