Economics
The Currency Ethicist: One Man’s Push to Fix a Tarnished Market
- International code of conduct for FX traders due Thursday
- David Puth-led committee hammered it out over eight months
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What David Puth has seen in 35 years in the currency markets hasn’t always been pretty.
Anyone curious about misbehavior among currency traders doesn’t have to go back very far to find it. Five global banks paid about $9 billion in fines and penalties last year after traders were caught working together to rig benchmarks.