永盈体育

永盈体育 FMA Promoting Ethical Conduct

As the leading global trade association that represents the interests of the professional wholesale financial markets community, 永盈体育 Financial Markets Association (永盈体育 FMA) is focused on enhancing the standards of ethical and professional behaviour by all market participants.

With the relevant and continuous relationship between its core values of Membership, Education and Ethical Conduct, 永盈体育 FMA leads and supports local, regional, and global initiatives that are launched with the purpose of promoting ongoing awareness and implementation of good market practices by all participants in financial markets.

Below you will find examples of some initiatives:

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GDF Webinar - Global Cryptoasset Standards - 15 October 2024

永盈体育 Financial Markets Association (永盈体育 FMA) and Global Digital Finance (GDF) have announced the launch of a new Joint Standards Stewardship Working Group (WG), which sets out to promote and steward the GDF Global Cryptoasset Standards (the Standards) which were published in July 2023 and can be accessed here.

The Standards is a pioneering code of conduct designed for financial institutions engaged in intermediation activities in cryptoasset markets, including brokerage, custody, and settlement.

The new WG sets out to:

  • Develop applicable scenario and use cases for the implementation of the Standards on the 永盈体育 FMA鈥檚 ELAC (E-Learning, Attestation, and Certification) Portal;
  • Provide a sandbox environment for firms to test attestation and certification to the Standards through ELAC, thus supporting better alignment among market participants and promoting the consistent application of the Standards;
  • Ensure the Standards evolve as industry matures by maintaining it as a living document that reflects the industry鈥檚 ongoing priorities and concerns. As an example, the UK鈥檚 Financial Conduct Authority (FCA) has expressed strong support for the Standards and sees them as a valuable supplement to future FCA rules on cryptoassets.

To discuss the background and development of the Standards, and what to expect from new WG, GDF hosted a Webinar on 15th October 2024 with the following speakers:

  • Madeleine Boys, from Global Digital Finance
  • Marianne Webber, from Standard Chartered
  • Seha Islam, from EY
  • Stephane Malrait, from 永盈体育 FMA
  • Rui Correia, from 永盈体育 FMA

Madeleine moderated the Webinar and discussed the GDF's engagement with regulators on the Standards, including IOSCO, the FCA, SEC and HKMA. Marianne and Seha spoke about the development of the Standards, whilst Stephane and Rui spoke about the objectives of the WG and the utility of their ELAC tool to help develop training and education around the Standards for market participants.

Listen to the webinar

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Sri Lanka Forex Association Session - FX Global Code: Supporting the Development and the Integrity of the FX Market - 10 May 2024

In order to promote the adherence and implementation of the FX Global Code in Sri Lanka, 永盈体育 FMA was invited to Colombo to deliver a series of Workshops for local market participants to understand how each of the principles of the Code apply in practice.

Prior to the second Workshop, held on 11 and 12 May 2024, 永盈体育 FMA has participated in a session entitled 鈥淭he FX Global Code 鈥 Supporting the Development and the Integrity of the FX Market鈥, which was attended by local stakeholders in the Bank of Ceylon鈥檚 premises in Colombo and broadcasted live for all 永盈体育 National Associations in Asia.

After preambles from Brian Joseph and Tivanka Damunupola (from the Sri Lanka Forex Association) and from Shanaka Perera (永盈体育 FMA Asia President), we heard Rui Correia (永盈体育 FMA Executive Director of Education) deliver a presentation that focussed on the importance of the FX Global Code in the objective of developing a common set of guidelines that promote the integrity and effective functioning of the wholesale FX Market.

Listen to the webinar:

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LBMA Podcast - Global Precious Metals Code - 21 September 2023

Our esteemed partner London Bullion Market Association (LBMA) has launched a Podcast entitled 鈥淐ompliance Cosy Chat", a cosy internet corner for engaging discussions about compliance, regulations, precious metals, and everything in between.

Being hosted by Graham Jelf, LBMA鈥檚 Compliance Officer, and by Emmy Richardson, LBMA鈥檚 Senior Compliance Associate, the Podcast aims to provide listeners with rich insights, experiences, and expertise from LBMA鈥檚 guests.

As you know, the LBMA and 永盈体育 FMA have a longstanding partnership that aims to promote ongoing adherence to the Global Precious Metals Code.

Therefore, the Episode 1 of the Podcast covered the Global Precious Metals Code and Continuous Learning to it, as a methodology that can support market participants to adhere to the Code on an ongoing and sustainable basis.

In this Episode, Graham and Emmy chat to Rui Correia, 永盈体育 FMA Executive Director of Education, that shared invaluable insights into the 永盈体育 FMA鈥檚 ELAC Portal, which is designed to support all market participants in continuous training to the Global Precious Metals Code (amongst other Codes, Guidelines and Standard), therefore supporting LBMA鈥檚 members to the requirements of the Code鈥檚 updated version published in December 2022.

Listen to Episode 1 of the Podcast:

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永盈体育 Zimbabwe AGM: Presentation of the 永盈体育 FMA鈥檚 ELAC Portal 鈥 13 August 2023

In order to present the current work being undertaken by 永盈体育 FMA, Roy Daniels, 永盈体育 FMA Africa President, was invited to attend the Annual General Meeting of 永盈体育 Zimbabwe which was held on Sunday 13th August 2023 in Cape Town, South Africa.

Over the course of his speech, Roy focussed on the importance of the 永盈体育 exams as important tools that support the development of individual market participants in their ongoing engagement in the financial markets. Amongst other topics, he also mentioned the 永盈体育 FMA Handbook 鈥 Our Best Practices and Further Guidance: Reinforcing Industry Codes (/aci-fma-handbook), as a key initiative to support members鈥 adherence to the FX Global Code, the Global Precious Metals Code and the UK Money Markets Code, a subject that Roy later discussed with Mr. William Manhimanzi, Deputy Director of the Reserve Bank of Zimbabwe.

The event was organised by the Executive Committee of 永盈体育 Zimbabwe, chaired by its President Mr. Noah Kazingachire, and was attended by important stakeholders of their local financial markets that also enjoyed a presentation delivered by the Reserve Bank of Zimbabwe (amongst others).

In the AGM, Rui Correia, 永盈体育 FMA Executive Director of Education, also delivered a remote presentation targeted at the importance of the promotion and implementation of the 永盈体育 FMA ELAC Portal (/elac), for continuous E-Learning, Attestation and Certification on those three industry Codes (amongst others). Rui detailed the structure and features of the Portal and showed the members of 永盈体育 Zimbabwe on how ELAC can help individual market participants to adopt, on a continuous basis, good market practices for financial markets.

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永盈体育 FMA Webinar: 永盈体育 FMA Handbook 鈥 19 June 2023

In this Webinar, we have presented and discussed the following topics (amongst others) related to the introduction and development of the 永盈体育 FMA Handbook:

  • What is it and why is it needed?
  • How should it be used and maintained?
  • Where to access it and how to study it in our educational tools, which allow for an individual鈥檚 understanding and implementation of its guidelines (with a brief presentation of ELAC and of my永盈体育FMA)?
  • How can it support the 永盈体育 National Associations and the financial markets industry?

The Webinar was moderated by Rui Correia, 永盈体育 FMA Executive Director of Education, and counted with the important participation of the following speakers:

  • Anne-Maria Rothenstein, 永盈体育 FMA Management Board and Chair of Regulatory Working Group
  • Kim Winding Larsen, 永盈体育 FMA President
  • Nisha Asha Bhambhani, Indonesia Foreign Exchange Market Committee
  • Stephane Malrait, 永盈体育 FMA Chairman

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永盈体育 FMA Presentation: Continuous Education... Challenge or Opportunity? 鈥 19 May 2023

To ensure that all individual market participants, from all sectors of the industry, work together towards enhancing the integrity, fairness, and competitiveness of financial markets, 永盈体育 FMA firmly believes that continuous education is absolutely fundamental to ensure they adopt and implement sustained good market practices which are advocated by relevant industry Codes, Guidelines and/or Standards.

With that purpose, Rui Correia, 永盈体育 FMA Executive Director of Education, has delivered a speech to the attendees of the 永盈体育 FMA Croatia 31st Financial Markets Conference, held in Zagreb on 19th May 2023, focusing on the challenges and opportunities for continuous education.

In that presentation, he presented a brief outline of the main features of 永盈体育 FMA鈥檚 ELAC Portal (/elac), a tool that helps all market participants to prove individual adherence to those Codes, Guidelines and/or Standards. He also shared details about the recently launched 永盈体育 FMA Handbook 鈥 Our Best Practices and Further Guidance: Reinforcing Industry Codes (/aci-fma-handbook), and the attendees also had the opportunity to hear Nisha Asha Bhambhani, from the Indonesia Foreign Exchange Market Committee and member of the 永盈体育 FMA Regulatory Working Group, share their experience of integrating the 永盈体育 FMA Handbook in their Market Code of Conduct (Brown Book, 4th Edition).

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Workshop: FX Global Code in Tanzania 鈥 10 May 2023

The FX Global Code, which serves as a standard code for good practice in the wholesale foreign exchange market and is able to dispense a set of guidelines that encourage integrity of participants and its effective functioning.听Conformity to such principles will ultimately result in a celebration of robust, fair, open liquid and appropriately transparent FX Market.

This webinar has highlighted the functions and extent of the FX Global Code, global trends - with a focus on key principles and solutions, and the importance of adherence to the FX Global Code.

Key discussion points included:

  • The Conception of the FX Global Code
  • Functions and Extent of the FX Global Code
  • Case Studies
  • Refinitiv / LSEG commitment to FXGC
  • Solutions supporting key principles
  • Education: Key for Ongoing Adherence to the FX Global Code

Speakers:

  • Liku Kamba, Manager Domestic Markets Department, Bank of Tanzania
  • Mohamed Laseko, Senior Manager, Currencies, Derivatives and Commodities, CRDB Bank Plc
  • Nsajigwa Martin Kasyanju, Senior Trader Global Markets, CRDB Bank Plc
  • Nuno Neto, Global Head of Central Banks and Financial Communities, Refinitiv An LSEG Business
  • Rui Correia, Executive Director of Education,听永盈体育 FMA

To access the recording, please click on:听

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LBMA Webinar: Global Precious Metals Code 鈥 19 January 2023

The London Bullion Market Association (LBMA), in a collaboration with 永盈体育 FMA, hosted an online webinar on the topic of 鈥淕lobal Precious Metals Code, Version 2: Everything You Need to Know鈥.

In December 2022, the LBMA released Version 2 of the Global Precious Metals Code, which sets out the minimum standards and best practices expected from Market Participants in the Precious Metals Market. These wholesale Market Participants are required to attest to the code by December 2023 and, consequently, LBMA has partnered with 永盈体育 FMA to assist them in demonstrating their adherence to the training element of the Code, via their ELAC online portal.

Kim Winding Larsen, President, and Rui Correia, Executive Director of Education represented 永盈体育 FMA in the webinar and shared with the audience the online training solution available on the ELAC Portal, the main objective of which is to help all Market Participants attest to the Code. The LBMA was represented by Emmy Richardson, Compliance Analyst.

To access the recording, please click on:听

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永盈体育 FMA Webinar: FX Global Code... Education Matters! 鈥 15 December 2021

The adherence of Market Participants to the FX Global Code is essential for its global implementation across all sectors of the FX Market. Education plays an important role in that regard, as it helps professionals with the practical application of good market practices in their daily roles.

But...

  • What level of educational activities should be applied by all Market Participants?
  • What would be the most appropriate format by which to deliver and/or access the necessary educational activities to ensure ongoing compliance to the FX Global Code?
  • Which department of a Market Participant's business should be involved in the conception and delivery of those activities?
  • How regularly should these educational activities be delivered?

In this Panel Discussion, we have heard views from various experts on how continuous education can support firms and individuals to enhance and develop their requirements for demonstrating ongoing adherence to the FX Global Code by all Participants, especially as the FX Market is increasingly complex and faces regular challenges.

In this Webinar, moderated by Rui Correia, Executive Director of Education at 永盈体育 FMA, we have counted on the presence of a valuable group of speakers:

  • Duarte Pitta Ferraz, Professor of Governance & Banking, Nova School of Business and Economics
  • Francisco Javier Fernandez Fernandez, Product Manager Global FX Client & Product Development, BBVA
  • Peter Skerritt, Chief Executive Officer, Peter Skerritt & Associates
  • Tobias Helmersson, Senior Market Operations Expert, European Central Bank

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