NFA Announcements
Felix Shipkevich - July 30, 2008March 27, 2008
Supervision of Forex Promotional Materials: Effective Date of Amendments to the Interpretive Notice Regarding Forex Transactions
NFA has received notice that the Commodity Futures Trading Commission (”CFTC”) has approved amendments to the Interpretive Notice entitled “Forex Transactions.” The amendments will become effective on July 1, 2008.
The amendments require that the supervisory employee responsible for [...]
Forex News
Felix Shipkevich - July 29, 2008Small retail FX firms facing extinction
April 7th, 2008
Felix Shipkevich, general counsel, and Anna Vidiaev, staff attorney, at online foreign exchange trading company Capital Market Services in New York say a proposed rise in capital requirements for retail brokers will result in an anticompetitive market.
In his September 26 testimony before the US [...]
CFTC/NFA forum
Felix Shipkevich - July 27, 2008On July 23, 2008, NFA released a statement to their
Forex Dealer Members (”FDMs”) advising that pursuant to CFTC
Reauthorization 2008, the adjusted net capital will be increased to $20
million. The current adjusted net capital requirement for FDMs is $5
million. The increase will be phased in through $5 million increments.
The first increase will take place October 31, [...]
CFTC Announcements
Felix Shipkevich - July 25, 2008July 29th – The U.S. Commodity Futures Trading Commission (CFTC) announced today the that it filed an enforcement action against Robin States d/b/a Infinity Online Investors Group (Infinity) and his common-law wife, Bernadette Bowden, charging them with fraudulent solicitation and misappropriation of commodity pool participant funds and with false statements.
States’s brother, Paul States, is also [...]
NFA Announcements
Felix Shipkevich - July 19, 2008On July 23, 2008, NFA released a statement to their Forex Dealer Members (”FDMs”) advising that pursuant to CFTC Reauthorization 2008, the adjusted net capital will be increased to $20 million. The current adjusted net capital requirement for FDMs is $5 million. The increase will be phased in through $5 million increments. The first increase [...]
CFTC/NFA forum
Felix Shipkevich - July 18, 2008July 7, 2008
73 FR 38403
Request To Exempt Certain Over-the-Counter Swaps From Certain of the Requirements Imposed by Commission Regulation 35.2, Pursuant to the Authority in Section 4(C) of the Commodity Exchange Act
