Regulation doesn't get you to a better place than principles

Despite scepticism about the efficacy of the GCC, panellists say regulation is just as hard to interpret and can have unintended consequences

Paul Chappell at C-View
Paul Chappell: there is a grim determination from regulators to make the Global Code work

Prescriptive regulation can be as difficult to interpret as principles-based rules, despite a consensus view among delegates at FX Invest Europe in Zurich that the Global Code of Conduct (GCC) will not be enough to restore trust in foreign exchange markets.

A poll question to the audience revealed scepticism among buy-side market participants that the principles set to be outlined in the GCC, when the final version is published in May, will be sufficient to overcome trust issues following the

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