FCA Adopts Revised Global FX, Metals Standards Codes

By Najiyya Budaly (November 19, 2021, 4:53 PM GMT) -- The U.K. financial watchdog said on Friday that it has approved voluntary codes for good practice in the foreign exchange and precious metal markets, to help firms meet conduct rules.

The Financial Conduct Authority said it recognizes the FX Global Code and the Global Precious Metals Code, which are voluntary market rules written by the industry to reflect their views of best practice.

The U.K.'s Senior Manager and Certification Regime, or SM&CR, holds individuals at firms to account for their conduct and competence, forcing them to meet these standards.

The City watchdog said behavior that is in line with FCA-recognized codes,...

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