View more on these topics

Treasury targets foreign exchange clampdown

Chancellor George Osborne is set to announce tougher regulations of foreign exchange dealing, according to the FT.

Osborne is expected to reveal new measures to tackle the manipulation of forex benchmarks in his Mansion House speech on 12 June.

The FT says one option under consideration would see forex benchmarks brought into the scope of statutory regulation. This is how the Government sought to tackle problems with Libor, the benchmark inter-bank lending rate that was manipulated by several large City institutions.

The Treasury is said to be working with the Financial Stability Board, a group of global regulators, to scope out reform options.

The FSB is expected to make recommendations on reforms of benchmarks before a summit of the leaders of the Group of 20 leading economies in November.

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com