Small retail FX firms face extinction
In his September 26 testimony before the US House of Representatives Committee on Agriculture, Dan Roth, president of the National Futures Association (NFA), proposed a set of new rules and regulatory measures for the NFA's two dozen foreign exchange dealer members (FDMs).
The NFA regulates the retail over-the-counter forex industry under the jurisdiction of the Commodity Futures Trading Commission (CFTC), which is pending reauthorisation. The proposal outlines rule changes designed to better
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