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 rules will be proposed by the CFTC sometime before the end of October. Forex managers should begin preparing accordingly for the registration requirements under the proposed retail forex rules. Managers should also begin thinking about taking the Series 3 exam as well as the Series 34 exam which is the new retail forex examination.
Mallon P.C. has developed a free series 34 exam study guide. At Forex Law Blog we are soliciting feedback from those persons who have already taken the Series 34. Please let us know your thoughts on the exam.
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Mallon P.C. provides legal support, registration and compliance services to all types of forex managers. Bart Mallon, Esq. can be reached directly at 415-868-5345.
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