MAD ambiguity riles industry experts
REGULATORY UPDATE
Since implementation became official on July 1 this year, many delegates have complained of a lack of clear guidance from the UK's Financial Services Authority (FSA) on the new 'Code of Market Conduct', especially on which irregularities bank executives should report to supervisors. Under the new rules, bank executives must file reports with the FSA if they believe a suspicious transaction that could be the product of market abuse has taken place – the regime is very similar to that for money
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