Spot FX to come under statutory rules – FEMR
UK's Fair and Effective Markets Review recommends wide changes
Spot foreign exchange will be subject to new statutory and civil market abuse regimes, which will be built on the global code of conduct that central banks are working to draw up, co-ordinated by the Bank for International Settlements, states the UK's Fair and Effective Markets Review (FEMR).
The move effectively means self-regulation in FX markets will cease to exist, despite the current Market Abuse Regulation (MAR) not covering asset classes such as spot FX, as FEMR has paved the way for
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