http://www.forexlawblog.com Forex laws by forex lawyers, forex registration, forex regulations, forex disclosure documents and forex news Thu, 18 Mar 2010 10:45:09 +0000 http://backend.userland.com/rss092 en On the Eve of New Forex Registration Requirements, CFTC Finds More Fraud In two separate actions, CFTC charged Arizona resident Helmut H. Weber of Weber Capital Management with solicitation fraud and misappropriation of customer funds, and CFTC obtained a preliminary injunction against Virginia resident Ronald W. Smith, Jr. of Safeguard 3030 ... http://www.forexlawblog.com/cftc-charges-helmut-h-weber-with-forex-fraud-update-on-ronald-w-smith-jr-fraud-charges/ 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 ... http://www.forexlawblog.com/nfa-indicates-support-of-higher-leverage-for-retail-forex/ “Concerned” about “severe impact” of regulations On March 9, 2010, Utah Senator Orrin G. Hatch submitted a comment letter to the CFTC regarding the proposed retail forex regulations.  Senator Hatch takes the stance that the CFTC should not reduce the levergage requirement from 100:1 to 10:1. “I am told this provision may ... http://www.forexlawblog.com/senator-orrin-hatch-comments-on-proposed-forex-regulations/ GAIN Capital Announces New Hong Kong Office and White Label Agreement with Polaris Securities GAIN Capital Holdings, Inc. (operator of well-known site forex.com) has expanded its presence in Asia by opening a new office in Hong Kong. It currently has offices in Tokyo and Seoul, as well as in New York, ... http://www.forexlawblog.com/gain-capital-holdings-inc-opens-hong-kong-office-expands-asian-presence/ 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/