SEC Trading and Markets No-Act: Financial Information Forum

The SEC Division of Trading and Markets provided no-action relief to the Financial Information Forum's Regulation E Working Group, which requested assurance that the staff will not recommend enforcement action to the SEC under Regulation E if a broker-dealer provides to consumers disclosures of fees, currency exchange rates and taxes in the same way that an "insured institution" is permitted to do under Sections 1005.32(a) and 1005.32(c) of Regulation E. The amendments to Regulation E, which implements the Electronic Fund Transfer Act, are designed to provide new protections to consumers who send remittance transfers to other consumers or businesses in a foreign country.

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