The perils of one-size-fits-all
At the heart of the foreign exchange industry's many lobbying efforts over the past three years has been a relatively simple objective – to ensure regulators don't proceed in adopting a one-size-fits-all approach to post-crisis reforms.
Time and again, both in terms of FX and more broadly, regulators have had to be pulled back from the brink of inflicting blanket requirements that would bring unintended consequences for the real economy.
In the latest example, questions have been raised about
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