BoE has published a new Non-Investment Products Code for principals and broking firms in the wholesale markets. The Code replaces the previous version. It covers trading in the sterling, foreign exchange and wholesale deposit markets, and spot and forward foreign exchange and bullion markets. Although BoE and FSA have been involved in its production, it has no statutory underpinning or regulatory force. The Code sets general standards and controls, and considers confirmation and settlement procedures. (Source: BoE Non-Investment Products Code November 2011)