Guy Debelle, the Reserve Bank of Australia's assistant governor for financial markets, updated participants at the ASIFMA/GFMA Liquidity Conference in Hong Kong via video link on progress towards a Global Code of Conduct for the Foreign Exchange Market. Phase 1 of the code was launched in New York in late May 2016. The complete code will be released following the Global Foreign Exchange Committee meeting in London in May 2017. "For the code to be effective ... it will need to be accepted and endorsed by the FXCs and market participants more generally," Debelle concluded. CBA chairman David Turner yesterday announced that highly regarded intellectual property lawyer Mary Padbury would join the bank's board as an independent non-executive director, effective immediately. Padbury is a partner and the vice chairman of Ashurst. She was once the chairman of Ashurst Australia for eight years, prior to the firm's full merger with Ashurst LLP to create an integrated global firm in 2013. According to a CBA statement, Padbury was "instrumental in this strategic merger," having led negotiations been closely involved in the integration of the firms.