Dodd-Frank forces retail OTC precious metals into extinction

Forex.com, via a blogger at ZeroHedge, caused an internet frenzy early this week when they sent notices to customers that, as of July 15th, they would no longer offer retail over-the-counter precious metal trading. These bespoke spots were placed under CFTC jurisdiction by the Dodd-Frank Wall Street Reform...

OCC proposes Dodd-Frank rule in preparation for OTS takeover

The Office of the Comptroller of the Currency (OCC) issued a proposed rule today to push forward on Dodd-Frank compliance. Dodd-Frank regulations, which are slated to come into effect this July, require that the OCC take over the Office of Thrift Supervision (OTS). The proposed rule sets up a protocol to...

BOJ may ramp up fiscal policy actions

Bank of Japan policy makers are prepared to consider expanding an emergency-loan program for banks and increasing purchases of government debt should the recovery falter, people with knowledge of the matter said. “Should a rise in the yen threaten to damp corporate and consumer sentiment and exacerbate...

CFTC/SEC seek to expand their authority over foreign exchanges

The CFTC and SEC recommended legislation that would expand their authority over foreign exchanges that offer access to U.S. investors. Excerpt: “Under the SEC approach foreign exchanges wishing to engage in a securities business in the United States must comply with the registration requirements under...