Enforcement 'biggest challenge' for new forex code of conduct
Harmonising existing foreign exchange codes is proving relatively straightforward, but 'adherence is our biggest challenge', says the chair of the BIS's Markets Committee
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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