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We are approaching the one year anniversary of the release of the FX Global Code of Conduct, which is a business ethics guide aimed at combating the endemic financial crime in the foreign exchange industry.
It was written by the Global Foreign Exchange Committee together with central banks, investors and dealers, and it aims to restore credibility to the 5.3 trillion USD a day FX market.
While signing up to the guide is not compulsory, the understanding is that there will be a trickle down effect driven by peer pressure. For example, the Bank of England signed the document ... (read more)