ACI UK is delighted to announce that David Woolcock, ACI UK Committee member; Chair, ACI FMA’s Committee for Professionalism and Vice Chair of the ACIFXC, is the new ACI representative on the BIS Foreign Exchange Working Group (FXWG) led by Guy Debelle, and tasked with delivering a new Code of Conduct to the global FX industry.
As a member of the FXWG Market Participants Group, chaired by David Puth (CLS), David will contribute directly to the development of the Code, due to be delivered in May 2017. The MPG is tasked with providing ‘insight, expertise and effort to support the development of – and effective adherence to – a single global code of best practices in FX’ and to serve as ‘a centralised, private sector coordinating mechanism on FX best practices work for FXCs and other regional representatives’.
Commenting on the appointment, Morgan McDonnell, ACI UK President, notes: “Over many years David has been instrumental in the development, review and update of the ACI Model Code, the original global code for FX industry best practice which already forms the bedrock of the UK NIPs code and many other national codes of conduct (e.g. Japan). As such, he is singularly well placed to advise and guide on both the academic and practical aspects of managing effective implementation of a principles-based global code of conduct. His leadership of the ACI CFP, active participation in the FXC and longstanding commitment to supporting the global ACI community will ensure that our voice is heard at BIS and other industry fora.”
David is participating in a panel “Regulation in FX ahead of MiFID II” at the forthcoming Finance Magnates London Summit, November 14/15 2016