ACI said regulators should avoid "wider structural reforms" following FX fines
The leading foreign exchange trade body
has responded to the £2bn of fines imposed on five
investment banks by urging regulators to eschew "wider
structural reforms" in favour of "governing human
Marshall Bailey, the president of ACI
Financial Markets Association, condemned the actions of traders
at Citigroup, HSBC, JP Morgan, RBS and UBS and called the
£2bn fine imposed by British and US regulators "a moment
of reflection for the FX market".
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