The man responsible for guiding the new foreign exchange markets' Global Code of Conduct, Guy Debelle, has been named as deputy governor of the Reserve Bank of Australia as part of the changes taking place as current governor Glenn Stevens steps down in favour of new incumbent Philip Lowe. Lowe was named as the new governor in May and has welcomed Debelle’s appointment as he steps up from assistant governor (markets), where part of his work was heading the BIS FX Working Group
Sources familiar with the matter say that David Woolcock is joining the Market Practitioners Group (MPG) sub-committee of the BIS Working Group.
The MPG, under the stewardship of CLS’s David Puth, is helping to develop the Global Code of Conduct for FX markets. The work started in mid-2015 in response to the series of scandals that rocked FX markets and the completed Code is due for delivery in six months’ time.
Woolcock is chair of ACI – The Financial Markets Association’s Committee for Professionalism (CFP), the committee that originally created and manages ACI’s Model Code.