Tag: Conduct

Conduct

In the FICC of It

As liquidity has clearly deteriorated in FX markets over the past two weeks, this week’s podcast is faced with a series of questions regarding participant behaviour, and joining Colin Lambert to discuss these issues is John Crouch, founder and CEO of Ideal Prediction. Using the imagination for which he is famous* Lambert kicks things off […]

FMSB Publishes 2019 Annual Report

The FICC Markets Standards Board (FMSB) has issued its 2019 Annual Report setting out the progress made to enhance standards of behaviour in the wholesale fixed income, currencies and commodities (FICC) markets and its priorities for the year ahead. FMSB is a private sector, practitioner-led organisation whose membership collectively accounts for a substantial share of […]

And Finally…

There is so much happening at the moment it’s hard to know where to start, so let’s kick off with the good, before moving to the cynical. First up, hearty congratulations to Martyn Mead, who left Barclays, and, I understand, the FX industry, last week after four decades, the majority of which he spent at […]

In the FICC of It

There is a long run list for this week’s In the FICC of It podcast, which kicks off with some welcome listener input into last week’s questions of algos intentionally losing money to throw the “order sniffers” off the scent and the challenges facing Singapore’s efforts to build an FX liquidity hub. Colin Lambert and […]

Wells Fargo Fined Over Controversial Burger King FX Trade

Already facing unfair dismissal actions and having paid one fine, Wells Fargo has been further sanctioned by the US Commodity Futures Trading Commission (CFTC) over its actions during the USD/CAD trade to hedge Tim Hortons’ purchase of Burger King. Having paid the US National Futures Association $2.5 million in August, Wells Fargo has now been […]

FMSB Publishes Conflict of Interest Statement

The FICC Markets Standards Board (FMSB) has published the final version of a Statement of Good Practice on the issue of conflicts of interest. The Board says the Statement aims to provide practical, working level guidance and examples for market participants to draw on, as they consider ways to prevent, manage and mitigate conflicts of […]

ASIC Warns on Retail FX; Provides Observations on FX Global Code

In a speech delivered at an ACI Australia event in Sydney this week, Commissioner Cathie Armour of the Australian Securities and Investment Commission (ASIC) observed that the regulator “continues to respond to a high incidence of misconduct in the retail OTC derivatives sector and to see large sums of client losses”. In 2018 ASIC published […]

P&L Talk Series with Guy Debelle

As he assumes the reins of the Global FX Committee, Reserve Bank of Australia deputy governor Guy Debelle talks to Colin Lambert about the impact of the FX Global Code and the importance of maintaining momentum as the GFXC seeks to broaden its reach. Colin Lambert: We are now more than two years on from […]

UK Regulator Recognises FX Global Code

Following a consultation process, the UK’s Financial Conduct Authority (FCA) has formally recognised two financial market codes of conduct, the FX Global Code and the UK Money Markets Code. To support and encourage the development and use of best practice industry codes of conduct, the FCA created a process to formally recognise those codes covering […]