ACI refers dealers to model code
NEWS
Global industry body ACI-The Financial Markets Association responded to AIB’s currency losses with a statement urging banks to follow its guide to forex dealing, the Model Code of Conduct.
The ACI believes that following the code’s etiquette for segregation of duties and reporting, authorisation and responsibility for dealing activity and its risk management principles could have prevented scams such as the $750 million fraud perpetrated at AIB’s subsidiary Allfirst in Baltimore last week.
Howev
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