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| Author: | Kimbell, D. |
| Title: | Scandals force new forex rules |
| Journal: | Euromoney
2004 : MAR, VOL. 35:419, p. 90, 92 |
| Index terms: | Foreign exchange Regulations |
| Language: | eng |
| Abstract: | Forex scandals are rare, considering the size of the business. But when they happen, they tend to be dramatic. Demands for tighter controls are growing. But even without a clear and unified regulatory framework, a fear of reputational and financial risk ensures that banks take the issue seriously. "Peer pressure is a very powerful motivator for market practice in foreign exchange, so it is in the participants' interest to comply with any guidelines," says Joseph De Feo, president and CEO of CLS Bank International. |
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