Industry group calls for a global code of conduct for the FX industry
A working group created to strengthen code
of conduct standards and principles in foreign exchange markets
has commenced work, calling for the creation of
principles-based code to govern practitioners in the FX
industry by May 2017.
The Bank for International Settlements
(BIS) Friday confirmed that work by the Foreign Exchange
Working Group (FXWG), announced by governors of the BIS in May,
has now begun, with the group recently holding its first
meeting in Singapore.
The FXWG has been created with the remit
of establishing a single global code of conduct standards and
principles, and to promote greater adherence to these standards
and principles throughout the FX market.
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