BoE's Carney Backs Tighter Regulation Of Forex Market
By Joanne Faulkner (October 15, 2019, 4:01 PM BST) -- Bank of England Governor Mark Carney on Tuesday joined a European Union regulator's call for rules targeting trader misconduct to be extended to include the foreign-exchange market.
Currency traders who bet on daily foreign exchange prices — known as spot trades — are currently outside of the perimeter of EU market abuse rules introduced three years ago.
During a Treasury Committee hearing on financial stability, Carny told MPs that he supported currency traders being made to comply with the same conduct rules that govern share and bond trading. Carney acknowledged that amending the rules would require changes to current legislation. ...
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