Sarb publishes first draft of forex code of conduct
New code of conduct to enter South African foreign exchange market
The South African Reserve Bank today (October 19) released the first draft of a foreign exchange code of conduct – though the body that wrote it found no evidence of malpractice or "serious misconduct" in the market.
The Foreign Exchange Review Committee (FXRC), led by James Cross, a former senior deputy governor at the central bank, was tasked with reviewing the foreign exchange market by the Sarb and Financial Services Board (FSB) last year.
The review recommended establishing a unified code
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