Retail Foreign Exchange Transactions

SEC ReleaseNo. 34-64874

July 13, 2011

The SEC adopted interim final temporary Exchange Act Rule 15b12-1T to allow broker-dealers to continue to engage in retail foreign exchange business until July 16, 2012. In the absence of this relief, such transactions would have been prohibited pursuant to Dodd-Frank Section 742(c), which requires these transactions to be with "eligible contract participants."

Please contact any of the following Cadwalader attorneys if you have any questions about this item:

Steven Lofchie; [email protected]

Jeffrey Robins; [email protected]

Cross References

Exchange Act Rule 15b12-1T

Dodd-Frank § 742(c)

Commodity Exchange Act § 2(c)(2)(B)