At the recent ACI FMA Council meeting, held in Dublin, Ireland, the association’s representatives discussed its ongoing work in the areas of ethical conduct, education and networking.
The Council is comprised of the Presidents and Secretaries of each of the National Associations, representing all of the individual members from over 60 countries, and the body that elects ACI FMA’s Management Board.
Council approved the 2016 financial statements. Furthermore, it took note of the report by internal auditors for the last financial year and an external audit report for the financial years 2013 to 2016. Both reports confirmed that ACI’s finances were soundly managed and properly overseen over the last years.
Council also received reports from its Working Groups and Committees. The Managing Director presented the ACI FMA strategy based on ACI’s three core values - membership, education and ethical conduct. The strategy is strongly focused on distributing ACI FMA’s solutions for financial market participants to access, attest and adhere to the FX Global Code - released on 25 May 2017.
Access - ACI launched a mobile app on 25 May 2017 – downloadable free of charge - for financial market participants to view the FX Global Code and other codes in one go. In a few months, this app will allow subscribers of ELAC, the ACI FMA’s eLearning, Attestation and Certification Portal (www.acifma.com/elac), to view their PAR (personal accreditation rating) score online and be updated on ACI solutions for best market practice, including other new codes.
Attest - ACI delivered a new certificate - the Global Code Certificate - based on the 6 main themes and 55 principles of the FX Global Code. Market participants can strive for this certificate in order to attest their understanding of best practice.
Adhere - ELAC has been updated to include a new pool of questions and case studies to measure subscribers’ knowledge and accurate application of the principles in the FX Global Code.
After many years of personal commitment, Eddie Tan was acknowledged for his contribution and was awarded the title of Honorary Chairman of ACI FMA by acclamation. Council and the Management Board gave a standing ovation to thank Eddie Tan for his extraordinary work and outstanding commitment to ACI FMA.
The new Chairman, Bruno Langfritz, agreed to lead the Management Board into the future. Two new regional representatives joined the Management Board - Malama Mushinga for the Africa region and Jack Richards for the Asia region. A new European head is currently being sought.
Bruno Langfritz ACIFMA Chairman