News/Regulation
China's FX reserves rise in March
The $8.3bn increase is a slight turnaround from February’s decline
Deutsche Bank commits to FX Global Code
The latest top FX dealer to support the principles aimed at improving standards in currency markets
John Williams named president of New York Fed
Candidate proved contentious on diversity grounds, but brings deep macroeconomic experience
Brokers see mixed impact from Esma crackdown
Several brokers believe Esma’s decision will be good for retail investors, while others expect a flight to more lenient jurisdictions
BoE: reasonable to expect passporting rights until 2020
Firms operating under current passporting regime can expect to continue activities until at least the end of the new implementation period
Barclays commits to FX Global Code
The UK bank joins the handful of top-tier FX banks to have adhered to the principles
Salmon exits GFXC and BoE for private-sector opportunity
Federal Reserve Bank of New York’s Simon Potter will act as interim chair with immediate effect
Shell is first corporate on FX Global Code public register
Shell signs up to the code of conduct, stating its practices align with the 55 principles
BIS warns of virtual currency risks
CBDCs could have an impact on global financial stability, and large demand could force central banks into risky assets, new report says
US court rules cryptocurrencies are commodities
Asserting the CFTC’s jurisdiction, the ruling clears the way for the agency to bring its fraud case
China’s FX reserves drop for first time in 13 months
PBoC figures show $27bn decrease from a month earlier, driven by exchange rate movements
Record commits to FX Global Code
The firm is one of the few on the buy side to have signed up to the code of conduct
CLS to launch reporting tool for members
FX settlement utility gives members extra fields in end-of-day reports to help with reporting requirements
Mark Carney: crypto is not the future of money
The Bank of England governor says cryptocurrencies are unreliable and provide poor short-term value
Fed’s Powell expects strong US growth
Robust labour market likely to support income and consumer spending rises, Fed chair says
Bogucki lawyers call FX case a ‘well-disguised sham’
Defence says prosecutors misused international document request to extend statute of limitations
NatWest Markets commits to FX Global Code
The bank becomes the ninth dealer listed on the public register of adherence maintained by CLS
RBC Capital Markets: all e-FX trades subject to last look
The bank commits to FX Global Code of Conduct and publishes Ficc client notice
CryptoUK unveils code of conduct
It aims to improve operating standards in the UK cryptocurrency space
UK regulators zoom in on algo trading
FCA and PRA launch co-ordinated push to improve risk management and governance of algorithmic trading
Russell Investments calls on peers to commit to FX Code
Chief investment officer for currency says FX Global Code of Conduct embodies good fiduciary standards
China’s FX reserves rise for twelfth month
PBoC figures show $21.5 billion increase, bringing total reserves stockpile to highest level since September 2016
BIS: central banks must act on cryptocurrencies
Agustin Carstens warns against proliferation of cryptocurrencies without regulatory framework
Online investment fraud increasing, warns FCA
Under-25s are six times more likely to trust an investment offer made via social media compared with those aged 55-plus