Market abuse law could be extended to cover FX in South Africa
FXRC review finds no proof of wrongdoing in domestic markets
South Africa aims to extend market abuse laws to cover foreign exchange in the wake of a review of currency trading practices, despite it failing to find evidence of malpractice or serious misconduct.
The Report of the Foreign Exchange Review Committee (FXRC) on the Operations of Authorised Dealers in the South African Foreign Exchange Market found that while most authorised dealers complied with the required standards, there was scope for improvement in overall conduct.
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