http://www.forexlawblog.com Forex laws by forex lawyers, forex registration, forex regulations, forex disclosure documents and forex news Thu, 11 Mar 2010 21:24:32 +0000 http://backend.userland.com/rss092 en Forex IB Firms Form IB Coalition to Challenge CFTC Proposal, Cite Contradictions Between Futures and Forex Regulations We recently wrote an article on the new guaranteed introducing broker (IB) proposed rule with regard to the CFTC’s Forex Proposal because we were curious as to why little was being said about this ... http://www.forexlawblog.com/new-ib-coalition-challenges-guaranteed-introducing-broker-requirement-among-others/ Dallas CPO/CTA Frontline Financial, Inc. & Owner Charles G. Rice Charged with NFA Compliance Violations On February 18, NFA issued a press release detailing its settlement with Dallas-based commodity pool operators (CPOs) and commodity trade advisors (CTAs) Frontline Financial, Inc. (FFI), Frontline Advisors LLC (FAL), and Charles G. Rice (Rice). FFI ... http://www.forexlawblog.com/frontline-financial-inc-permanently-banned-from-nfa-owner-charles-g-rice-must-withdraw-from-nfa-for-5-years/ Cloud, Jr. Charged with Violating CEA, Misappropriating Customer Funds, Providing False Account Statements Overview CFTC filed complaint against Willie Lee Cloud, Jr. (Cloud), principal and agent of C & R Financial, Inc. in Texas, for soliciting at least $200,000 from nine investors which he claimed would be put in individual forex trading ... http://www.forexlawblog.com/cftc-charges-texas-based-willie-lee-cloud-jr-principal-agent-of-c-r-financial-with-operating-ponzi-scheme/ CFTC Charges VA Resident Ronald W. Smith, Jr. with Fraudulent Solicitation and Misappropriation of $800,000+ in Customer Funds Overview CFTC charges Smith with providing false account statements to his customers and using at least $800,000 of his customers' investment money to pay for personal expenses. CFTC claims that Smith traded hardly any of the ... http://www.forexlawblog.com/cftc-stops-another-forex-ponzi-scheme/ 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 ... http://www.forexlawblog.com/recent-issues-with-nfa-annual-questionnaire-forex-law-blog/ President of NFA Dan Roth and CFTC Commissioner Jill Sommers Discuss Leverage Proposal On Friday, Dan Roth, the president and CEO of the National Futures Association met with CFTC Commissioner Jill Sommers regarding the proposed forex regulations. According to the text of the CFTC comment file regarding the meeting, the discussion ... http://www.forexlawblog.com/nfa-talks-with-cftc-about-proposed-forex-leverage-reduction/ Leverage, Inaccessibility for Smaller Traders, and Offshore Threat are Focus of Public Comments As we’ve discussed in related posts, the CFTC has proposed rules regulating the off-exchange spot forex industry (see Retail FOREX Registration Regulations Proposed). The CFTC has requested comments from the public and there are currently about 100 public ... http://www.forexlawblog.com/new-forex-regulations-overview-of-public-comments/ 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, ... http://www.forexlawblog.com/colorado-cta-cfs-charged-with-misusing-customer-funds-submitting-false-material-to-nfa-failing-to-supervise-among-other-allegations/ 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 ... http://www.forexlawblog.com/mallon-pc-creates-nfa-self-exam-checklists-for-forex-ctas-cpos-and-ibs/ 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) ... http://www.forexlawblog.com/capital-fx-llc-violates-nfa-compliance-rules-permanently-banned-from-nfa-membership/