Sarb launches investigation into forex traders
Review aims to root out malpractice in the forex market
The South African Reserve Bank (Sarb) today launched a "review" of foreign exchange trading in the country, joining a number of other central banks in seeking to root out misconduct.
In a statement, the Sarb described the review as "prudent", and denied it was a response to evidence of wrongdoing. "At this stage there are no indications of widespread misconduct or malpractices," the central bank said.
The review aims to encourage traders to adhere to best practices, "minimise" the risk of
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