Farewell to self-regulation, goodbye self-policing

FX market participants prepare to end an era of unregulated markets

guy-debelle-2010
Guy Debelle, assistant governor, Reserve Bank of Australia

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The foreign exchange industry is rediscovering the might of the c-words, also known as the codes of conduct. Following two years of intense regulatory and public scrutiny plus some hefty fines, the ongoing effort to tighten up standards of behaviour around the globe is in full steam.

Market participants are involved in a multitude of conversations about what should be done to ensure another scandal such as the WM/Reuters benchmark-rigging saga does not repeat itself

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