That is all the more important as the boundaries between ‘buy-side’ and ‘sell-side’ activities become increasingly blurred.   Fourth, from the end of 2019, when the Senior Managers Regime comes into force in the UK for FCA-regulated asset managers, behaving in accordance with a recognised market Code will help Senior Managers demonstrate they are observing ‘proper standards of market conduct’ – a key requirement of the regime9. That is a significant positive benefit to signing up to the Code – and to ensure firms are able to take full advantage of that, the Global Code has been submitted to the FCA for formal recognition; and    Fifth, signing up to the Code gives buy-side firms a stronger voice in the ongoing development of the Code and the FX market as a whole: a vital part of ensuring the Code is fit for purpose, future-proofed, and reflective of the needs of the whole market. Explanation (4): Concern about the cost of signing up and implementing the Code – “this is just one of many things we are being asked to comply with. We act for 1000s of different investors, with multiple expectations and mandates. Our regulatory team is overwhelmed.” We understand that buy-side firms face many competing challenges, and have taken steps to help with implementation. I have already mentioned the proportionality principle that lies at the heart of the Code, and the steps that the new GFXC buy-side groups will be taking to help improve understanding and promulgate best practice for implementation.
Caleb M Fundanga: Improving school infrastructure in Zambia Remarks by Mr Caleb M Fundanga, Governor of the Bank of Zambia, at the Handover Ceremony of computers to Mumbwa High School, Mumbwa, 4 February 2010. *  *  *  The Board Chairperson, Mr Gracious Hamatala Board Members Present The PTA Chairperson, Mr Mwila Kabange The Headmaster, Mr Kizito Kalonga Distinguished Teachers Students Members of the Press Ladies and Gentlemen It is an honour and privilege for me to be with you today as the Bank of Zambia makes this humble donation of 5 computers to Mumbwa High School. I am also glad because in some small way we are making a contribution towards ensuring a brighter future for the students. Chairpersons, I am informed about the numerous challenges and difficulties, the school continues to face in its quest to produce high quality education to students. For instance, I am aware that there is a critical low level of books compared to the population of students in the school. Further, having been established 40 years ago, the School’s infrastructure urgently needs to be rehabilitated. The refurbishment of infrastructure is not an easy task but in the able leadership of the Board Chairperson, I have no doubt that a solution will be found in good time. As we grapple with the ways and means of improving the school infrastructure, let me reiterate that the school need to maintain and protect the little infrastructure available.