Foreign exchange says goodbye to self-regulation

Forex market participants prepare for end of unregulated markets

Guy Debelle, assistant governor, Reserve Bank of Australia


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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