The final report and recommendations of the Financial Stability Board Benchmark Consultation were published following consultation with industry bodies and trade associations including ACI. Amongst its recommendations was ‘stronger demonstration by market participants of compliance with the codes of the various foreign exchange committees as well as internal codes of conduct…..stronger demonstration of compliance could also take the form of yearly reconfirmation of the codes (both internal and external) by sales and traders through specific training and regular exams’. The Report goes on to say ‘We would expect more public endorsement of the codes by various foreign exchange committees and their member banks’ and specifically acknowledges that the ACI Model Code is already used in many jurisdictions.
Contact ACIAmerica for more information about implementing the ACI Model Code and/or to discuss ACI’s suite of accredited exams, including the ACI Model Code Certificate. We can be reached at 212-952-2966 or at firstname.lastname@example.org.