Banks struggle to solve FX conduct issues – Wheatley
FCA chief executive tells HOC treasury committee
Banks' foreign exchange desks are struggling to figure out how to install controls to eliminate improper trading practices, according to Martin Wheatley, chief executive of the UK Financial Conduct Authority.
Speaking at a House of Commons Treasury Committee hearing yesterday, Wheatley said that while banks have been introducing changes to their operational procedures to combat the alleged manipulative behaviour, he admitted they have found it difficult.
"All the banks are really struggling as
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