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FXPA Meets with Regulators, Policymakers in Washington

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FXPA Meets with Regulators, Policymakers in Washington – FXPA.org

Members of the Foreign Exchange Professionals Association (FXPA) spent two days in Washington DC last month meeting with senior members of the Federal Reserve, US Treasury and Commodity Futures Trading Commission (CFTC), as well as held a series of educational briefings for Congressional staffers on such key committees as the House Financial Services Committee, both the House and Senate Agriculture Committees, and the Senate Banking Committee.

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FXPA Meets with Regulators, Policymakers in Washington

Members of the Foreign Exchange Professionals Association (FXPA) spent two days in Washington DC last month meeting with senior members of the Federal Reserve, US Treasury and Commodity Futures Trading Commission (CFTC), as well as held a series of educational briefings for Congressional staffers on such key committees as the House Financial Services Committee, both the House and Senate Agriculture Committees, and the Senate Banking Committee.
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RBA’s Debelle to Head FX Conduct Group

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RBA’s Debelle to Head FX Conduct Group – Automated Trader
The Foreign Exchange Working Group (FXWG), announced by Bank for International Settlements (BIS) Governors in May to strengthen code of conduct standards and principles in foreign exchange markets, has now been established. The group, which operates under the auspices of the Markets Committee, is headed by Guy Debelle of the Reserve Bank of Australia.

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Question of Whether to Reveal Client Names Delays FX Trials, Sources Say

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Question of Whether to Reveal Client Names Delays FX Trials, Sources Say – Profit & Loss (subscription)
Multiple sources are saying a big part in the delay in the tribunal process for some of the dealers dismissed over the chat room fiasco comes down to revealing client names. Lawyers are still thrashing out the details of whether client names will be redacted ahead of the hearings.
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Many Asset Managers in the Dark on FX Ordering Process, Manipulation

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Many Asset Managers in the Dark on FX Ordering Process, Manipulation – The Asset (subscription)
Asset managers and other buy side participants in foreign exchange trading should understand the FX ordering process of their respective banks, while banks and sell side firms should explain and document the ordering process to prevent the level of misconduct that has resulted in billion dollar fines arising from allegations of manipulation in global FX markets.
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Fed Raises Capital Requirements for Banks

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Fed Raises Capital Requirements for Banks – Wall Street Journal (subscription)
The Federal Reserve sent a message to the largest US financial firms: staying big is going to cost you. The Fed’s warning, articulated in a pair of rules it finalised Monday, is among the central bank’s starkest post-crisis regulatory moves pressing Wall Street banks to reconsider their size and appetite for risk.
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