very short and sweet and to the point.
to hear people express concerns over how the Global Code of Conduct is going to
be implemented and how adherence can be assured.
simple. As an addendum to every copy of the Code, that should be attested to by
every participant in the wholesale foreign exchange market, there should be
attached a copy of yesterday’s US Department of Justice’s indictment of three
former members of the Cartel.
traders are smart with their money and save well and as such the $1 million
fine (it can be higher) may have little impact.
them the bit where it says these allegations, if proven, come with a 10 year
Even if the
three men are found innocent they are going to go through a traumatic period of
extradition and trial in the US. The threat of that alone should ensure that
anyone who is even considering doing the wrong thing thinks again.