FSB idea could help draw a line under forex scandal

A utility for foreign exchange trading (FT 17 July 2014)

Banks, asset managers, export companies and anyone else with a passing interest in a properly functioning foreign exchange market should not take off on their summer holidays just yet. A key consultation document on fixing the shortcomings… Celý článek →

Banks pull out of dozens of benchmarks after rate-rigging scandals (FT 1 October 2014, by Daniel Schäfer in London)

Some of the world’s largest banks have stopped contributing to dozens of financial benchmarks to avoid further litigation risk in the wake of the Libor and foreign exchange rate rigging scandals. Deutsche Bank, Citigroup, JPMorgan and UBS, among… Celý článek →

Regulators push for widening of forex fix time (Financial Times 15 July 2014, by Daniel Schäfer and Sam Fleming in London)

Global regulators have proposed to centralise foreign exchange trading at a crucial daily fix on a global platform in a move that would undercut banks’ role in the currency market. The Financial Stability Board said in… Celý článek →

Benchmark boycott shows regulatory tail risk trumps common good

FT 1 October 2014, by Jonathan Guthrie

Fines are growing in tandem with presumptions of wrongdoing

Statistics are agreed to be triple-distilled dishonesty. But they give us the Dutch courage of bogus certainty in a chaotic world. That explains the movement by regulators to reform compromised financial benchmarks,… Celý článek →

Forex markets face further regulations (Financial Times, September 30, 2014 4:07 pm, by Sam Fleming)

Participants in foreign exchange markets have been warned they may face further regulatory change even after implementing a long-awaited series of recommendations aimed at removing the taint affecting the sector. A task force set up by the Financial Stability Board on Tuesday set… Celý článek →