Regulation
Puth: FX must repair its reputation
The BIS global code of conduct needs to be strong enough to close the gaps, but members need to find a consensus
CFTC's Giancarlo blames dwindling liquidity on bank regulators
Insolvency risk has been transformed into liquidity risk, says the commissioner
Market abuse law could be extended to cover FX in South Africa
Its review of FX practices finds no evidence of manipulation though
FCA introduces new whistleblowing rules as clean-up continues
Regulators, looking for additional ways to clean up the scandal-prone financial industry, are forcing banks to make it easier for employees to report wrongdoing in all parts of the business
Former RBS trader claims dismissal was premeditated
Ian Drysdale, fired in 2014 for gross misconduct, told an employment tribunal that the bank had "dishonestly contrived" his dismissal
Customers consider suing banks in FX manipulation
Customers who took large positions are beginning to wonder if they lost out during the rigging and are exploring the potential for redress. The legal woes for financial institutions are far from over
Icap becomes a strategic investor in Abide Financial
The partnership will help the post-trade services provider to scale the business at a faster rate
Former Citi trader names names in court
Perry Stimpson, dismissed in 2014 for serious breach of contract, told an employment tribunal that improper conduct was widespread within Citi's foreign exchange activities
Four ex-traders sue Citi
Traders dismissed as part of the global investigation into FX have filed an unfair dismissal claim
Bloomberg receives MTF authorisation from FCA
The Bloomberg MTF will provide execution of interest rate and default swaps
Sefs face uncertain future amid regulatory delays
Basel III could be the next trigger, but costs are mounting
EU revisions to uncleared margin rules address industry fears
European regulators roll back contentious elements of EU uncleared margin rules, including the treatment of cash collateral and third-country corporates
Panel speakers clash on last look viability
Panellists speaking at the FXIC conference in New York disagreed on current electronic trading practices in foreign exchange
Market participants cheer FEMR recommendations
Dealers, customers and platforms all welcomed the outcome of the long-awaited review
Spot FX to come under statutory rules – FEMR
The UK's Fair and Effective Markets Review recommends wide-ranging changes to certain FX business practices
FEMR will ban stop losses being offered for free
Review also set to ban use of last look without intention to trade
Leverage ratio begins to bite for FX derivatives
The capital-intensive rule for banks, which has already affected the rates and credit world, is starting to hit FX - with clients expected to bear the brunt of higher costs
Regulators must harmonise NDF clearing rules
Panel urges US and European regulators to avoid creating a split
Futures industry needs new business model
Senior policy adviser at Chicago Fed addresses market structure issues at FX Invest North America
Benchmark criminalisation ‘irrelevant' to current enquiry
FCA to regulate seven additional financial benchmarks from today
FX market reprieve as margin implementation delayed
Large FX institutions gain as BCBS-Iosco delay the starting gun for variation margin until 2016, following industry pushback
EU benchmark reform beset by delays
The EU parliament is still set to go it alone as it attempts to regulate those administrators responsible for critical financial benchmarks
CFTC commissioner questions NDF mandate suitability
All eyes on US regulator after Esma puts clearing of non-deliverable forwards on hold
Esma puts NDF clearing on hold
The European regulator takes a step back from proposing a clearing obligation for NDFs in the wake of market feedback