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 [...]
New OTC Derivatives Proposal Could Include Forex Provisions
U.S. Treasury and CFTC Chairman Disagree Whether Forex Regulations Should Be Included in OTC Derivatives Proposal
On April 13, Senate Agriculture Committee Chairman Blanche Lincoln (D., Ark.) met with top U.S. Treasury officials to discuss over-the-counter (“OTC”) derivatives and the proposal she is putting together to regulate them. These proposed regulations will affect institutional players, who [...]
San Francisco Forex Professionals Group on LinkedIn
New LinkedIn Group Seeks to Connect Forex Professionals in the San Francisco Bay Area
We would like to invite you to join the San Francisco Forex Professionals Group on LinkedIn. The group serves as a professional and networking resource for local Forex professionals. If you’re interested in joining the group, log in to your LinkedIn account [...]
CFTC Catches Another Ponzi Scheme Involving Forex
CFTC Charges Florida Couple, Claudio and Betty Aliaga, and Companies With Operating Ponzi Scheme
On April 12, the CFTC announced charges against Florida resident Claudio Aliaga (”Aliaga”) and company CMA Capital Management, LLC for operating a Ponzi scheme which fraudulently solicited almost $5 million from customers with the promise of profitable returns trading forex. Here are some highlights [...]
Forex Podcast - April 2010
New Podcast Discusses CFTC Forex Proposal, Public Comments, and Registration Requirements
On April 5, Mallon P.C. released its first podcast which discusses the new CFTC proposed rules with respect to the off-exchange retail foreign exchange markets.
In the podcast, Bart Mallon and Kristina Maalouf of Mallon P.C. overview the four main proposals which, if passed, will have [...]
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 [...]
FXDC Firms Comment on Guaranteed IB Proposal
FXCM, FX Solutions, Interbank FX, and OANDA Provide Feedback on CFTC Forex Proposal’s New Guaranteed Introducing Broker (IB) Rule
The new CFTC Forex Proposal contains a proposed requirement for all introducing brokers (IBs) to be guaranteed by one futures commission merchant (FCM). Prior to the proposition of these rules, IBs were allowed to be either independent [...]
GAIN Capital Holdings, Inc. Opens Hong Kong Office, Expands Asian Presence
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, New Jersey, and London.
The CEO [...]
New IB Coalition Challenges Guaranteed Introducing Broker Requirement, Among Others
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 significant change for IBs. Evidently, [...]