Enforcement of global FX code of conduct still a work in progress, Debelle says
Debelle notes the FX market is regulated differently from one jurisdiction to another
Enforcement of the planned global code of conduct for the foreign exchange market is "still very much a work in progress", said Guy Debelle, assistant governor at the Reserve Bank of Australia, on November 25.
Debelle, who is leading the work on the code, previously warned that adherence is the "biggest challenge" facing the working group of the Bank for International Settlements (BIS) markets committee.
'Critical need'"While the content of these regional codes is pretty good, it is very
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