Recent content by FCMReform

What's Next On Capitol Hill The comment period for the CFTC’s additional customer funds protection proposal is now closed. But there will be additional opportunities to advance the cause of greater retail forex protections this summer. Yesterday, Senate Agriculture Committee Chairwoman Debbie...

What's Next On Capitol Hill The comment period for the CFTC’s additional customer funds protection proposal is now closed. But there will be additional opportunities to advance the cause of greater retail forex protections this summer. Yesterday, Senate Agriculture Committee Chairwoman Debbie...

2nd CFTC Roundtable The CFTC held another public roundtable on the PFG/MF Global customer protection proposals that are now open for comment: MF Global Customer Funds Rules Get Another CFTC Hearing - Bloomberg FXCM continues to advocate for greater FCM/RFED transparency as detailed...

Judge Nears Decision on PFG Complaint The bankruptcy judge for the PFG Best case is expected to decide on the complaint filed by the forex/metals account holders at PFG. AP has an article out detailing the conflict between futures and forex customers...

The CFTC has now extended its open comment period: CFTC Extends Public Comment Period on Rulemaking Enhancing Protections Afforded Customers and Customer Funds Held by Future Commission Merchants and Derivatives Clearing Organizations

There has been some positive moves taken by regulators. Now we need to try and get retail forex included in teh reform process.

The Futures Industry Association has submitted a comment letter to CFTC requesting the comment period be extended for one month due its concern that "increased costs imposed on FCMs will adversely affect the ability of many FCMs to compete effectively." View Comment - CFTC CFTC has received...

NFA Proposes New Rules The National Futures Association has put forth some additional customer "safeguard" rules in light of the of the bankruptcies of MF Global and PFG. Again, these are steps in the right direction but we believe requiring firms to publish a quarterly, audited financial...

FXCM Submits Reform Proposals to CFTC FXCM has formally submitted its reform proposals to the CFTC for comment. We encourage everyone to contact CFTC as well to urge greater protections for the retail forex industry: http://comments.www.cftc.gov/PublicComme...m.aspx?id=1291 December 14, 2012...

CFTC Publishes Early Comments The CFTC has published some early comments regarding their additional customer funds protection proposals. Here is a sampling below: http://comments.www.cftc.gov/PublicComments/CommentList.aspx?id=1291 · From: Brandon Shoemaker Comment No: 58945 Date...

CFTC Publishes Early Comments The CFTC has published some early comments regarding their additional customer funds protection proposals. Here is a sampling below: http://comments.www.cftc.gov/PublicComments/CommentList.aspx?id=1291 · From: Brandon Shoemaker Comment No: 58945 Date...

CFTC Opens New Comment Period Last week the CFTC released their latest rule proposal to the public regarding customer funds protection for the futures industry. Once again the CFTC is accepting comments from the public: http://comments.www.cftc.gov/PublicComments/CommentForm.aspx?id=1291...

NFA Debuts New Basic Data The NFA has debuted its new financial reporting section on the BASIC search part of their website: NFA provides public online access to FCM financial information While this is a step in the right direction it still does not provide the kind of hard data that...

Due Diligence Red Flags The CFTC is expected to formally submit their reform proposals to the federal register, which will once again give customers a chance to make comments. I’ll post a link once it is available. In the meantime, Futures Magazine has published an interesting article on...

CFTC Announces Reform Proposals Chairman Gary Gensler put out a press release today announcing a series of reforms designed to afford customers greater protections in the futures industry. It does not appear retail forex has been included in these reforms but we'll learn more in the days...