Forex Regulatory Bodies – Do Their Existence Actually Needed?
The financial markets are controlled by several different regulatory bodies. These include overall regulatory bodies and those working for specific countries. In most countries, the regulation of financial market is being undertaken by the central bank, Regulatory Authority, or both. The latter can be subsidiary of the Central bank or an independent body. Forex market being one of the financial sectors is not left out of this regulation. Different bodies are designed to regulate the Forex market. These bodies may vary significantly depending on the country. The Forex regulatory body has the single most important role of strengthening and monitoring the Forex market within their jurisdiction. The overall roles of these regulatory bodies are many as listed below: