Federal Reserve Bank of New York Executive Vice President Simon Potter urged all foreign exchange market participants to adopt the FX Global Code.
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In response to industry feedback, the Global Foreign Exchange Committee will revise the treatment of "last look" trading practices.
A bank holding company agreed to pay a fine of approximately $110 million to settle charges of failing to supervise foreign exchange traders' communications and activities.
An investment bank agreed to pay $205 million as part of an agreement with the New York Department of Financial Services to settle claims of "unsafe and unsound" foreign exchange trading practices.