The Financial Conduct Authority (FCA) has confirmed it is recognising the updated FX Global Code.
The code, which has been maintained and updated by the Global Foreign Exchange Committee, sets principles of good practice standards for the global foreign exchange (FX) market.
The Authority has also announced that it is recognising the Global Precious Metals Code (the PM Code) - maintained and updated by the London Bullion Market Association, which sets out principles to promote the integrity and effective functioning of the global precious metals market.
The Bank of England has welcomed the UK watchdog’s decision.
“Since the FCA’s recognition of the Code in 2019, which embedded the Code in the Senior Managers and Certification Regime, we have seen a step change in engagement by the UK asset management community in particular,” said Andrew Hauser, executive director for markets, Bank of England. “There are now over 1,100 statements of commitment made to the FX Global Code.
“The FCA’s recognition of the revised Code continues to highlight the benefits of Code sign-up and promotes the integrity and effective functioning of the wholesale FX market. ”
Latest News
-
BBVA to roll out genAI tools for 100,000 employees in partnership with Google
-
Qonto applies for banking license in France
-
FCA expands bullying and harassment rules beyond banks to 37,000 firms
-
Zopa opens Manchester office with plans for 500 jobs
-
Government plans new tools to help FinTechs navigate complex regulation
-
Paxos launches dollar stablecoin in the EU
Data trust in the AI era: Building customer confidence through responsible banking
In the second episode of FStech’s three-part video podcast series sponsored by HCLTech, Sudip Lahiri, Executive Vice President & Head of Financial Services for Europe & UKI at HCLTech examines the critical relationship between data trust, transparency, and responsible AI implementation in financial services.
Banking's GenAI evolution: Beyond the hype, building the future
In the first episode of a three-part video podcast series sponsored by HCLTech, Sudip Lahiri, Executive Vice President & Head of Financial Services for Europe & UKI at HCLTech explores how financial institutions can navigate the transformative potential of Generative AI while building lasting foundations for innovation.
Beyond compliance: Transforming document management into a strategic advantage for financial institutions
In this exclusive fireside chat, John Rockliffe, Pre-Sales Manager at d.velop, discusses the findings of Adapting to a Digital-Native World: Financial Services Document Management Beyond 2025 and explores how FSIs can turn document workflows into a competitive advantage.
Sanctions evasion in an era of conflict: Optimising KYC and monitoring to tackle crime
The ongoing war in Ukraine and resulting sanctions on Russia, and the continuing geopolitical tensions have resulted in an unprecedented increase in parties added to sanctions lists.
© 2019 Perspective Publishing Privacy & Cookies
Recent Stories