FX Global Code
Widespread attestations being considered for code adherence
A revised draft of the new GCC for foreign exchange market will be released for comment in December
Salmon warns on adherence as strategic decisions loom
In an exclusive interview with FX Week, the BoE's Salmon floats regulation as a possible vision for 2020; for now last look stays
BoE’s Salmon warns FX industry on adherence
Chris Salmon, the Bank of England's executive director for markets and lead on global code adherence, says regulation could be on the horizon as soon as 2020 if market participants don't adhere to the new Global Code
BIS completes draft of Global Code of Conduct phase two
The FXWG plans to send the document to various FX committees in the coming weeks
Bailey plans to exit ACI in October
South African chapter president Brigid Taylor expected to be interim president and will be in the running for a permanent role
China to create own version of FX code
A newly established Chinese FX Committee is working on creating a Chinese version of the Global Code of Conduct, for domestic and foreign banks operating in the onshore market
FCA sees 'real improvements' in UK FX industry
Authority says that under its remediation programme, firms have installed appropriate risk mitigation plans
LMAX throws down the gauntlet to UK regulators
Exchange finds clear evidence that the market should be rules-based and move to execution-only venues
Two more banks publish execution guidelines
JP Morgan and Morgan Stanley disclose their rules on execution and last look to clients
Global Code must acknowledge inherent conflict in FX
Critics say the FX market is essentially full of contention and a prescriptive approach is needed
Global Code architects pledge to keep principles updated
The FX code of conduct will evolve to reflect market changes
New FX code gains overwhelming support
Code covers ethics, governance, information sharing, execution, risk management, confirmation and settlement
FX employment tribunal cases mount up
Citi and JP Morgan face disputes unconnected with the benchmark scandal
Global code adoption expected by summer's end
While participants are excited about the conduct guidance, they say firms' internal behaviour is what will ultimately create change
De Groot dismissal case kicks off at closed hearing
Former head of spot FX trading at BNP Paribas starts unfair dismissal claim against French bank
ACI ramps up education initiative
"Individual accountability is a central facet of the market going forward," says Marshall Bailey, the association's global president
New model army
With a global code of conduct for FX due in May 2017, industry participants are pushing hard to come together to avoid hard and fast regulation. By Mikael Latreille