ESMA drops FX bombshell

摘要

In what could turn out to be a splendid example of scope creep', the European Securities and Markets Authority (ESMA) is asking in a consultation whether the largely unregulated spot foreign exchange (FX) market should come under the scope of Market Abuse Regulation (MAR) in the EU. This matters a great deal for what is the world's largest market, and one that is heavily decentralised, totally global and where deals are largely done on a bilateral basis.