After a three-year review, the Global FX Code was updated in July 2021 to strengthen conduct standards and reflect changes in the FX markets.
Failing to adhere to the Code, can lead to severe penalties for both firms and individuals. Regulators and central banks in all major jurisdictions expect both buy-side and sell-side FX market participants to have committed to the Code. The Global Foreign Exchange Committee often carries out surveys to check how the Code has been implemented, including checking that committed companies are training their staff regularly on the principles.
Created by experts who have worked in organisations that needed to carry out major remediation following on from FX misconduct in 2013, this course uses case studies based on real situations and prosecutions to enable you to:
- understand the importance of the Code and grasp the regulatory and reputational risk of non-compliance
- learn about the principles of the Code, how to execute it, your personal accountability and what is good practice in governance
- appreciate the practical issues with confirmations and settlements
- be able to demonstrate to the regulator that you take your market participation seriously
- recognise the commercial advantage compliance to the Code will afford you and your organisation
You will study this course in your own time and at your own pace, and you have up to 1 month to complete it.
Explore the Global FX Code through these modules
- Personal Accountability
- Introduction to the Global FX Code
- Information Sharing
- Risk management and Compliance: Compliance standards
- Confirmations and Settlement
This course is self-paced with online gamified learning.
This short course is suitable for:
Both regulated and unregulated firms who have adopted or are informally applying the Code.
Compliance professionals, investment managers, asset managers or FX traders who want to ensure adherence or validate their knowledge.
If you feel the full course is not for you, two individual modules are available to enrol onto separately:
- ICA Learning - Introduction to the Global FX Code
- ICA Learning - Global FX Code Execution Principles
Your understanding will be tested with quizzes throughout the course and will be awarded a certificate of completion once the course is complete.