Market-makers encouraged to review last look
With regulators making headway and fining Barclays $150 million over its use of last look, corporate lawyers expect law enforcement to be just around the corner
Market-makers who use last look are being encouraged to review the practice to see if they can withstand further regulatory – and potentially legal – scrutiny, according to two legal experts who participated in a January 12 webinar hosted by the Foreign Exchange Professionals Association (FXPA).
The advice comes on the heels of the $150 million fine imposed on Barclays by the New York State Department of Financial Services in November, to settle allegations the bank used last look to boost its
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