Regulation
BIS warns of virtual currency risks
CBDCs could have an impact on global financial stability, and large demand could force central banks into risky assets, new report says
US court rules cryptocurrencies are commodities
Asserting the CFTC’s jurisdiction, the ruling clears the way for the agency to bring its fraud case
China’s FX reserves drop for first time in 13 months
PBoC figures show $27bn decrease from a month earlier, driven by exchange rate movements
Record commits to FX Global Code
The firm is one of the few on the buy side to have signed up to the code of conduct
CLS to launch reporting tool for members
FX settlement utility gives members extra fields in end-of-day reports to help with reporting requirements
Mark Carney: crypto is not the future of money
The Bank of England governor says cryptocurrencies are unreliable and provide poor short-term value
Fed’s Powell expects strong US growth
Robust labour market likely to support income and consumer spending rises, Fed chair says
Bogucki lawyers call FX case a ‘well-disguised sham’
Defence says prosecutors misused international document request to extend statute of limitations
NatWest Markets commits to FX Global Code
The bank becomes the ninth dealer listed on the public register of adherence maintained by CLS
RBC Capital Markets: all e-FX trades subject to last look
The bank commits to FX Global Code of Conduct and publishes Ficc client notice
CryptoUK unveils code of conduct
It aims to improve operating standards in the UK cryptocurrency space
UK regulators zoom in on algo trading
FCA and PRA launch co-ordinated push to improve risk management and governance of algorithmic trading
Russell Investments calls on peers to commit to FX Code
Chief investment officer for currency says FX Global Code of Conduct embodies good fiduciary standards
China’s FX reserves rise for twelfth month
PBoC figures show $21.5 billion increase, bringing total reserves stockpile to highest level since September 2016
BIS: central banks must act on cryptocurrencies
Agustin Carstens warns against proliferation of cryptocurrencies without regulatory framework
Online investment fraud increasing, warns FCA
Under-25s are six times more likely to trust an investment offer made via social media compared with those aged 55-plus
BoE and six EU central banks sign up to FX Global Code
UK central bank formally commits to FX Global Code of Conduct, following ECB and 14 peers
BNP Paribas pleads guilty to FX price-fixing
French bank regrets the misconduct and will pay $90 million to resolve investigations into its currency trading practices
Bank of Japan commits to FX Global Code
Central bank signs formal statement of commitment to principles of good behaviour
Cartel trial postponed until October
In the past two months, US attorneys have provided 2.2 million additional records, totalling 21.4 million pages, to the defence
Mesirow commits to FX Global Code
Currency managers sign formal statement of commitment to the principles of good behaviour
HSBC to pay $101 million to settle with DoJ
UK bank enters into deferred prosecution agreement and agrees to pay criminal penalty over Cairn Energy and other FX conduct
Bundesbank to include renminbi in reserves
Onshore renminbi jumps to strongest level against the dollar for more than two years, following comment from Germany’s central bank
Thomson Reuters updates Mifid II services
Mifid II-compliant data now available from 57 global exchanges, and eight new trading and reporting venues