BIS starts code of conduct work
The foreign exchange working group (FXWG) of the Bank for International Settlements (BIS) has held its first meeting in Singapore, and established two work streams to draft a new global code of conduct and develop proposals for incentivising adherence to the code.
The BIS announced in May this year that it would set up a working group to co-ordinate and lead efforts to harmonise common elements of existing code of conduct in FX, and create a single global rulebook for foreign exchange markets
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