Global Committee Wants More Forex Trading Risk Scrutiny

Law360, New York (August 17, 2012, 5:02 PM EDT) -- A panel of regulators from around the world on Friday unveiled updated guidance to banks and their supervisors to better manage risks associated with the settlement of foreign exchange transactions, saying that despite previous reforms, substantial risks remain due to rapid growth in forex trading.

The Basel Committee on Banking Supervision said the update to the guidance, which was first issued in 2000, provided a more comprehensive and detailed view on governance arrangements and management of forex settlement-related risks. The committee said it expected banks and...
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