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Debelle: regulation could be ‘helpful’ to FX code

As EU weighs regulation of spot market, GFXC chair dismisses key industry argument

Guy Debelle
Guy Debelle: adoption of similar approach to Australia’s is “potential solution or a potential option to address what the EC is trying to solve”
Photo: Reserve Bank of Australia

Regulation of the spot foreign exchange market could buttress the industry’s voluntary standards – the FX Global Code – according to the supervisor overseeing the code’s development. The EU is weighing regulation of spot FX, but lobbyists have argued the code removes the need for a separate rulebook.

“I don’t see the two as being inconsistent,” says Guy Debelle, deputy governor of the Reserve Bank

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