Commodity Futures Trading Commission

by Jerry Winter
(Striker Securities)

In early January, the Commodity Futures Trading Commission (CFTC)—the U.S. government agency responsible for the regulation of retail foreign exchange—proposed new rules for off-exchange retail foreign exchange. If enacted in their current form, these rules would have an enormous impact on the U.S. forex industry. The proposed rules call for restricting leverage to 10-to-1, even for the most widely traded currency pairs. To read the full 193 page text of the proposed rules, please visit

http://www.cftc.gov/ucm/groups/public/@newsroom/documents/file/forexrulesproposal.pdf.

We strongly believe that increased regulation brings credibility to our growing industry. However, we also feel that imposing onerous regulations is counterproductive in the marketplace. The Forex industry is actively lobbying against restricting leverage to 10-to-1. We are working with other Forex Dealer Members (FDMs), as part of the Foreign Exchange Dealers Coalition (FXDC), to provide a united industry front to lobby congress and the CFTC.

PLEASE NOTE: We are in a critical sixty-day period during which the CFTC will accept comments from the public, including industry participants, on proposed rule changes. If you would like to voice your concern for or against the proposal, you can contact the CFTC directly by sending an e-mail to secretary@cftc.gov with Regulation of Retail Forex in the subject line.

It is important that appropriate feed back is provided so that the integrity and sustainability of the Forex industry here in the US is maintained.


e-mail to secretary@cftc.gov with Regulation of Retail Forex in the subject line.

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