NFA Provides Guidance on Forex Registration Requirements
Bart Mallon, Esq. - Mallon P.C.
(www.forexregistration.com)
NFA Releases Notice Regarding Forex Registration
As we discussed in our post yesterday about outstanding issues with retail forex regulations, the NFA posted guidance regarding the final retail forex regulations passed by the CFTC earlier this week. In general, the notice answers a few of the questions regarding implementation of the regulations, [...]
Clarification on CFTC Final Retail Forex Regulations Forthcoming
Bart Mallon, Esq.
(www.forexregistration.com)
NFA to Issue Guidance on Regulations
Now that the CFTC has finalized the retail Forex regulations the Forex community will now set forth to figure out exactly what will be happening next. Today I called the NFA to get clarification on a couple of items with respect to the new regulations and I was [...]
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 [...]
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 [...]
NFA Bans Boca Raton Introducing Broker
Introducing Broker Permanently Banned for Violating NFA Requirements
On April 23, the National Futures Association (“NFA”) permanently banned one if its members, Windsor Wealth Management LLC (“WWM”) of Boca Raton, Florida, for violating NFA requirements.
NFA’s Business Conduct Committee (“BCC”) found that WWM did not list Anthony Bobba as a principal of the firm and also [...]
Next Steps for Proposed Forex Regulations?
Public Comment Period for CFTC’s Proposed Retail Forex Regulations Ended Monday, Proposal Will Go Back to Board for Review
On March 22, 2010, the public comment period ended for the CFTC’s Proposed Forex Regulations. I called the NFA to find out more information about what the next steps regarding the Proposal will be, but the NFA [...]
Overview of Major Forex Industry Players’ Public Comments
Major Forex FCMs, IBs, and Other Industry Players Submit Public Comments to CFTC Regarding Proposed Retail Forex Regulations
The public comment period for CFTC’s Proposed Retail Forex Regulations ended on Monday, March 22. CFTC received close to 9,000 comment letters. We went through the comments submitted by the major forex industry players and pulled out some [...]
NFA Indicates Support of Higher Leverage for Retail Forex
By Bart Mallon, Esq.
(www.forexregistration.com)
At the NFA regulatory conference at the beginning of this month, the topic of the first session was the current regulatory and legislative changes which are currently taking place in the industry. Perhaps not surprisingly, the panel (which included NFA’s Dan Driscoll) completely avoided any discussion of the CFTC proposed forex regulations [...]