Commissioner Chilton Speaks on Retail Forex Regulations
The CFTC just released a statement by Commissioner Chilton regarding the new retail Forex regulations. The full statement is reprinted below and can also be found here.
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“Rules to Rein in a Racket”
Statement by Commissioner Bart Chilton on the Release of New Retail Forex Rules
In recent years, mini-Madoff ponzi scams have proliferated, targeting unsuspecting investors with good hearts [...]
Dodd-Frank Forces CFTC to Adopt Retail Forex Regulations
Forex Registration Rules to be Finalized Soon
The Dodd-Frank Wall Street Reform and Consumer Protection Act (“Act”) amends the Commodity Exchange Act to include a new Section 2(c)(2)(E) which requires to the CFTC to finalize the proposed retail forex regulations within 90 days from the passage of the act. This means that the forex registration [...]
NFA President Discusses Forex Regulations
NFA to Appear at Forex Trading Expo
The NFA recently released its investor newsletter where it discusses some of the recent regulatory actions and other industry news. In this newsletter the NFA specifically discussed a couple of recent interviews featuring NFA President Dan Roth. The NFA also noted that they will be participating in the Forex [...]
Forex Commodity Pools
(www.forexlawblog.com)
Information on Forex Hedge Funds
The CFTC proposed rules early in 2010 that would require, among other things, managers engaged in providing investment advice with respect to retail forex to register with the CFTC and become members of the NFA. Those rules are expected to be promulgated sometime within the next 6-12 months and, accordingly, retail [...]
CFTC Obtains Civil Money Penalties re: McCall Ponzi Scheme
The CFTC Receives $3.8+ Million in Civil Penalties Stemming from McCall Enforcement Action
On May 4, the CFTC announced that it had received over $3.8 million in civil money penalties and equitable relief stemming from its enforcement action against Tyrone “Cauzae” McCall and two of his entities, McCall Business Group, LLC and MBG Global, LLC, for [...]
AVS Carter Financial, Inc. Violates NFA Compliance Rules
AVS Carter Financial, Inc. Cited by NFA for Misleading Customers, Insufficient Supervision
On August 25, 2009, the NFA filed a complaint against Chicago-based commodity trader advisor (“CTA”) AVS Carter Financial, Inc. (“AVS Carter”) AVS Carter’s website indicates that it has various entities with similar names, such as AVS Carter Trading Inc. and AVS Carter Asset Management [...]
San Francisco Forex Professionals Group on LinkedIn
New LinkedIn Group Seeks to Connect Forex Professionals in the San Francisco Bay Area
We would like to invite you to join the San Francisco Forex Professionals Group on LinkedIn. The group serves as a professional and networking resource for local Forex professionals. If you’re interested in joining the group, log in to your LinkedIn account [...]
Forex Podcast - April 2010
New Podcast Discusses CFTC Forex Proposal, Public Comments, and Registration Requirements
On April 5, Mallon P.C. released its first podcast which discusses the new CFTC proposed rules with respect to the off-exchange retail foreign exchange markets.
In the podcast, Bart Mallon and Kristina Maalouf of Mallon P.C. overview the four main proposals which, if passed, will have [...]
Recent Issues with NFA Annual Questionnaire | Forex Law Blog
As we discussed in an earlier post on NFA Annual Questionnaire, NFA Member Firms are required to complete the questionnaire on an annual basis. The information helps the NFA in a variety of ways and the NFA encourages members to update their questionnaire on a regular basis, although firms are only required to complete it, at a [...]
Mallon P.C. Creates NFA Self-Exam Checklists for Forex CTAs, CPOs, and IBs
Forex CTAs, CPOs, and IBs Will Benefit From Mallon P.C.’s User-Friendly Self-Examination Checklists
The information in the following press release from hedge fund law firm Mallon P.C. applies equally to forex commodity trading advisors (CTAs), commodity pool operators (CPOs), and introducing brokers (IBs).
The full text of the Mallon P.C press release is reprinted below and can [...]