Debelle: regulation could be ‘helpful’ to FX code
As EU weighs regulation of spot market, GFXC chair dismisses key industry argument
Regulation of the spot foreign exchange market could buttress the industry’s voluntary standards – the FX Global Code – according to the supervisor overseeing the code’s development. The European Union is weighing regulation of spot FX, but lobbyists have argued the code removes the need for a separate rulebook.
“I don’t see the two as being inconsistent,” says Guy Debelle, deputy governor of the Reserve Bank of Australia and chair of the Global Foreign Exchange Committee (GFXC). “In fact, I
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