Enforcement 'biggest challenge' for new forex code of conduct

New global code to be finalised by May 2017

fx-board
BIS project aims to harmonise existing forex codes

Deciding on the best ways to ensure adherence will be the hardest part of work on a global code of conduct for foreign exchange markets, the head of the project, Guy Debelle, said today (September 9) at a briefing at the Bank of England.

The working group was formed in July under the auspices of the Markets Committee at the Bank for International Settlements (BIS). As the BIS announced at the time, the group plans to finalise the new code of conduct by May 2017.

"Adherence is our biggest

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