Regulation doesn't get you to a better place than principles
Despite scepticism about the efficacy of the GCC, panellists say regulation is just as hard to interpret and can have unintended consequences
Prescriptive regulation can be as difficult to interpret as principles-based rules, despite a consensus view among delegates at FX Invest Europe in Zurich that the Global Code of Conduct (GCC) will not be enough to restore trust in foreign exchange markets.
A poll question to the audience revealed scepticism among buy-side market participants that the principles set to be outlined in the GCC, when the final version is published in May, will be sufficient to overcome trust issues following the
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