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CFTC Breaks Silence on Forex

Thursday, January 14th, 2010 Blog by admin

As Turnkey Trading Partners has mentioned over the past several months, the CTFC is getting closer to requiring forex brokerage firms, traders, and some systems providers to register with and become members of the NFA.  In case you missed it, just yesterday, the CFTC issued a press release related to the “Farm Bill” which will amend the Commodity Exchange Act to include retail forex as a financial market for which the CFTC will have jurisdictional authority.  More specifically the CFTC is now soliciting public comments on proposed rule changes to retail forex transactions brought forth by NFA and other financial regulatory authorities.  From a practical stand point what this means for forex traders is that these changes are getting ever closer to becoming hard and fast law.  

If you would like to learn more about this bill, would like to begin the process to comply with this new regulatory requirement, or are unsure on whether you will be required to register, please also consider reviewing our previous article “Forex Registration Almost Here.”  From there if you still have additional questions and would like a free consultation with a Turnkey Trading Partners consultant please feel free to fill out an information request here and some one will be back with you shortly.

To read the latest from the CFTC please read “CFTC Seeks Public Comment on Proposed Regulations Regarding Retail FOREX Transactions.”

-TTP’s Compliance Team

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