The Bank of England launched a code of conduct aimed at improving London’s reputation after a series of controversies which marred the industry.
Under the code released Wednesday, all participants in the British money markets, whether regulated or not, should adhere to the six primary principles including ethics, oversight, confidentiality, and execution.
The BOE said market players should behave professionally and rightfully in order to achieve the impartiality and integrity of the UK markets.
Although the code is voluntary in nature and has no legal fallback, regulated companies are awaited to ensure senior managers supervise its enforcement.
BOE’s Executive Director for Markets Chris Salmon said the rules spell out a precise groundwork which all participants should embrace and uphold the high behavior standards.
The material has been provided by InstaForex Company – www.instaforex.com
April 27, 2017 at 08:19AM
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