News & Insights

Help
146 News Results

National Futures Association Forex Transactions: A Regulatory Guide NFA Guide for forex transactions. Revised and updated to incorporate NFA Compliance Rule 2-48 (Forex Dealer Member Daily Trade Data Reports) as well as amendments to NFA's Financial Requirements for Forex Dealer Members. NFA's forex requirements apply only to Members whose forex activities are not subject to oversight by another regulator. Date February 2011 Cross References Dodd-Frank Act, Title VII, Sec. 742; CEA Sec. 2(c)(2); 17 CFR Part 5; NFA Compliance Rules 2-41 and 2-48.

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

76 FR 56103 September 12, 2011 The CFTC is amending its regulations governing off-exchange foreign currency transactions with members of the retail public (i.e., retail forex transactions). These amendments (Amendments) are necessary to incorporate into Part 5 of the CFTC's regulations changes made to the Commodity Exchange Act by the Dodd-Frank Act. The Commission is also issuing certain related technical interpretations of various provisions of the CEA as amended by the Dodd-Frank Act with respect to retail forex transactions. Effective Date: September 12, 2011 Cross References: Dodd-Frank

NFA Notice I-11-16 The Notice pertains to several amendments to NFA's Requirements that govern the retail forex activities of NFA Members. These amendments to NFA's Interpretive Notice entitled Compliance Rule 2-36(e): Supervision and Use of Electronic Trading Systems and NFA Compliance Rule 2-40 and the related Interpretive Notice entitled NFA Compliance Rule 2-40: Procedures for the Assignment and Liquidation of Forex Positions; Cessation of Customer Business became effective on November 15, 2011. Cross References: NFA Interpretive Notice Compliance Rule 2-36(e) : Supervision and Use of

CFTC Press Releases 6164-12 Order: FXOpen Investments Inc. The CFTC obtained a federal court consent order requiring defendant FXOpen Investments Inc. (FXOpen), a foreign firm, to pay a $140,000 civil monetary penalty to settle CFTC charges that it illegally solicited members of the public to engage in foreign currency (forex) transactions and operated as a Retail Foreign Exchange Dealer (RFED) without being registered with the CFTC. The order, entered on December 22, 2011 by Judge Virginia M. Kendall of the U.S. District Court for the Northern District of Illinois, also orders FXOpen to close