Banks unclear on new research rules

A senior FX manager at a European bank in London said that it is unclear how the new regulations, which have been formulated to improve the objectivity of banks’ research, will affect the forex market.

The British Bankers’ Association may also issue guidelines on the application of the rules to FX, said Simon Hills, director of wholesale and regulation at the British Bankers’ Association, which has already issued similar guidelines for fixed income.

One clear impact on forex is a tightening