The UK’s Financial Conduct Authority (FCA) has confirmed its recognition of these two Codes.
On Friday 19th November 2021, and under its code recognition scheme launched in 2018, the FCA has added the updated version of the FX Global Code, published in July 2021, and the Global Precious Metals Code, published in May 2017, to the list of Industry Codes that are formally recognised by the Authority.
There are now three Codes that have been formally recognised by the FCA this year, following the recognition of the updated version of the UK Money Markets Code which was published in April 2021.
ACI FMA congratulates the FCA for this affirmation and is extremely pleased with these formal recognitions, as we firmly believe these Codes are essential guidelines for good market practices in their respective markets, given that they have been drafted by the industry with the objective to support all Market Participants in their business activities.
To demonstrate ACI FMA’s continuous commitment to the enhancement of good market practices in the financial markets industry, ongoing training and testing on these three Codes are available on our ELAC Portal (for E-learning, Attestation and Certification).
When accessing ELAC, an individual Market Participant is regularly trained and tested on our market practice cases/scenarios. These are built with a specific emphasis on the practical implementation of the principles of these Codes in the daily roles of all Market Participants, which is also an extremely relevant factor for compliance to the FCA’s Senior Managers and Certification Regime.
Our ACI members are longstanding proponents and influencers of the highest standards of ethical and professional conduct, therefore ACI FMA will remain committed to promoting adherence to all initiatives that aim to implement the adoption of good market practices in the roles of financial markets professionals.
To access the press release from the FCA, please click on this link:
To access the industry Codes recognised by the FCA, please click on this link: