Colorado CTA CFS Charged with Misusing Customer Funds, Submitting False Material to NFA, Failing to Supervise, Among Other Allegations
CFS Capital Management LLC and Principals Violate NFA Compliance Rules, Forced to Withdraw from NFA Membership
On June 30, 2009, NFA filed a formal Complaint against Colorado commodity trading advisor (CTA) CFS Capital Management LLC (CFS) and two of its principals, Andrew G. Elrod and Brian G. Elrod. In the Complaint, NFA alleged that CFS and [...]
Capital FX LLC Violates NFA Compliance Rules, Permanently Banned from NFA Membership
Capital FX LLC Charged with Providing False and Misleading Information and Failing to Comply with NFA Investigation
In a February 5 press release, the NFA announced a settlement with Capital FX LLC (CFX) and its sole principal and employee Robert W. Pecord that will permanently bar the commodity trading advisor (CTA) from future NFA membership.
CFX and [...]
Forex Events February 2010
The following are various forex events happening this month. Please email us if you would like us to add your event to this list.
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February 6
Sponsor: Knowledge to Action Ltd.
Event: Forex Secrets Seminar Workshop
Location: Cambridge, UK
February 6
Sponsor: FX Week and China Forex magazine
Event: FX Week China 2010 Conference
Location: The Westin Beijing, Beijing Shi, Beijing, China
February 9
Sponsor: [...]
PFGBEST Press Release on New Forex Regulations
Forex Broker Supports CFTC But Not on Leverage Reduction
Last week forex broker BFGBEST was the first group to issue a press release on the leverage reduction component of the CFTC’s proposed retail forex regulations. The following press release, reprinted in its entirety, can be found here.
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FOR IMMEDIATE RELEASE
PFGBEST MEDIA ADVISORY
CHICAGO, January 15, 2010
RE: CFTC [...]
Retail FOREX Registration Regulations Proposed
(www.forexregistration.com)
Forex Managers Required to be Registered Under New Regulations
The much anticipated off-exchange retail foreign currency regulations were proposed today by the CFTC. The release announcing the publication in the Federal Register is reprinted below and can be found here. We will be providing an overview of the major provisions shortly.
The full proposed rules are posted here: [...]
New NFA Forex Rules Approved
New Forex Rules Set to Become Effective Soon
(www.forexlawblog.com) The NFA issued a press release, reprinted below, stating that the CFTC has approved certain proposed rules by the NFA regarding off-exchange foreign currency trading (forex). For NFA Member firms which trade in the forex markets, there are new compliance rules which they will need to adhere [...]
Forex Hedge Fund Manager Registration Webinar
The NFA just announced that it will post a webinar for those CPOs and CTAs who file their disclosure documents electronically through the NFA’s system. Once forex hedge fund registration, and forex registration in general, is required (expected later this year) the webinar will also apply to those forex CPOs and forex CTAs who are [...]
NFA Proposes New Forex Compliance Rule
The NFA has proposed a new Compliance Rule 2-44 regarding Forex Customer Statements. The NFA has also proposed related amendments to the Interpretive Notice regarding Forex Transactions. The new proposed Rule 2-44 provides guidance to Forex Dealer Members (FDMs) on how they should provide customer statements to their customers.
The major addition is Rule 2-44 which [...]
What are some common terms for forex hedge funds (forex commodity pools)?
Many forex managers who decide to start forex hedge funds have a great understanding of their forex investment strategy but are not quite sure what should be the terms of their hedge fund. This article will provide an overview of some of the more common terms for a forex hedge fund (fees, lock-ups, withdrawals, etc). [...]
Forex Regulation Scenarios
Our forex attorneys have spoken with the NFA on numerous occasions with regard to a variery of off-exchange foreign currency trading issues. In addition to discussing issues with regard to forex disclosure documents, we have also discussed certain forex regulation scenarious. [Please note: these scenarios were discussed with the NFA prior to the discussion of [...]
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