Forex dealer amendments from NFA
Posted byElan Mendel on Aug 16, 2011 in Dodd-Frank, Featured, Forex, Forex Dealer Member, Futures Commission Merchant, New Rules, Restricted, Retail Foreign Exchange Dealer, Social Media | 0 comments
The NFA issued an alert to members engaged in retail forex activities, notifying them of changes made to NFA requirements by the CFTC. These amendments affect NFA Bylaws, Compliance Rules, Code of Arbitration, and three Interpretive Notices. They will go into effect on October 1, 2011. The changes are as...NFA comments on CFTC swap incorporation rule-making
Posted byElan Mendel on Aug 10, 2011 in CFTC, Dodd-Frank, Featured, Futures Commission Merchant, Introducing Broker, National Futures Association, New Rules, Restricted, Retail Foreign Exchange Dealer, Social Media | 4 comments
The NFA has released a comment letter to the CFTC offering its opinion on two provisions found in the CFTC proposed rule to incorporate swaps into existing agency regulations. The Association’s comments apply to expanded record-keeping requirements found in the proposed rule. The first comment applies...SEC issues retail forex investor bulletin
Posted byElan Mendel on Jul 20, 2011 in Featured, Forex, Regulators, Restricted, Retail Foreign Exchange Dealer, SEC, Social Media | 0 comments
As part of its investor education initiative, the SEC has issued an Investor Bulletin educating consumers about the risks of retail foreign exchange (“forex”) trading. “Forex trading can be very risky and is not appropriate for all investors,” explains Lori J. Schock of the SEC’s Office of...CFTC wins judgment against unregistered forex dealer
Posted byFelix Shipkevich on Jun 21, 2011 in CFTC, Enforcement Actions, Featured, Forex, Restricted, Retail Foreign Exchange Dealer, Social Media | 0 comments
The CFTC announced today that it has obtained a default judgement and permanent injunction against foreign exchange, or forex, dealer ForInvest Group. The Commission filed a complaint against the Delaware-based firm in January 2011, alleging that the firm solicited clients to open off-exchange leveraged...Another Update on 14 CFTC Forex Enforcement Suits
Posted byElan Mendel on Apr 12, 2011 in Dodd-Frank, Enforcement Actions, Forex, Restricted, Retail Foreign Exchange Dealer, Social Media | 0 comments
For the past several weeks we have been covering the 14 enforcement lawsuits the Commodity Futures Trading Commission (CFTC) in federal courts throughout the country. Aside from a few requests from the CFTC to postpone proceedings due to an impending government shutdown, there has not been much movement in...