Global Forex Rules May Need Tweaking, BOE Official Says

Law360, London (September 12, 2017, 11:48 AM BST) -- The new global code designed to prevent misconduct in foreign currency markets may already need amending to address the way traders get a last-minute chance to reject a deal, a top Bank of England official said on Tuesday.

Chris Salmon, executive director for markets at the central bank, said it may be necessary to change the voluntary code, which was introduced in May this year to oversee the $5 trillion-a-day forex market following a series of industry trading scandals.

At issue are provisions in the code...
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