Greater role for dealers in FX fraud prevention in the US

REGULATORY UPDATE

WASHINGTON, DC -- The Commodity Futures Trading Commission (CFTC) has approved new rules designed to protect FX investors from unregistered traders. The regulations, originally part of the National Futures Association (NFA) code of practice and effective from December 1 this year, are intended to safeguard investors in retail FX futures and options from fraudulent practices by closing a loophole in the Commodity Futures Modernization Act 2000.

Although the act gave the CFTC the authority to

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