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Search: Posts Made By: FCMReform
Forum: Brokers February 28th, 2013, 12:54 PM
Replies: 112
Views: 40,876
Posted 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...
Forum: Brokers February 7th, 2013, 06:04 PM
Replies: 112
Views: 40,876
Posted By FCMReform
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...
Forum: Brokers January 31st, 2013, 06:16 PM
Replies: 112
Views: 40,876
Posted By FCMReform
Judge Nears Decision in 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...
Forum: Brokers January 14th, 2013, 12:25 PM
Replies: 112
Views: 40,876
Posted By FCMReform
The CFTC has now extended its open comment...

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...
Forum: Brokers January 3rd, 2013, 12:24 PM
Replies: 112
Views: 40,876
Posted By FCMReform
Comments to CFTC Continue

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...
Forum: Brokers January 3rd, 2013, 12:24 PM
Replies: 112
Views: 40,876
Posted By FCMReform
Our focus has been on the FCM's since this is...

Our focus has been on the FCM's since this is where the funds are housed.
Forum: Brokers December 24th, 2012, 12:57 PM
Replies: 112
Views: 40,876
Posted By FCMReform
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...
Forum: Brokers December 14th, 2012, 01:28 PM
Replies: 112
Views: 40,876
Posted By FCMReform
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:...
Forum: Brokers November 27th, 2012, 12:33 PM
Replies: 112
Views: 40,876
Posted By FCMReform
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.cftc.gov/PublicComments/CommentList.aspx?id=1291...
Forum: Brokers November 19th, 2012, 12:26 PM
Replies: 112
Views: 40,876
Posted By FCMReform
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:
...
Forum: Brokers November 12th, 2012, 12:59 PM
Replies: 112
Views: 40,876
Posted By FCMReform
NFA Debuts New Basic Report

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...
Forum: Brokers October 29th, 2012, 06:26 PM
Replies: 112
Views: 40,876
Posted By FCMReform
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...
Forum: Brokers October 23rd, 2012, 04:29 PM
Replies: 112
Views: 40,876
Posted By FCMReform
Thanks DJ

Thanks DJ
Forum: Brokers October 23rd, 2012, 04:28 PM
Replies: 112
Views: 40,876
Posted By FCMReform
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...
Forum: Brokers October 18th, 2012, 05:05 PM
Replies: 112
Views: 40,876
Posted By FCMReform
CFTC to Hold Open Meeting on Additional Customer Protections

The CFTC has just announced they will be holding an open meeting to consider additional customer protections for the futures industry next Thursday.

CFTC to Hold Open Meeting to Consider a Notice...
Forum: Brokers October 12th, 2012, 12:15 PM
Replies: 112
Views: 40,876
Posted By FCMReform
PFG Forex Customers to File Suit against Trustee

In yesterday's hearing on Drohan Lee LLP's motion on behalf of PFG's retail forex customers Judge Carol Doyle advised the plaintiffs to file an "adversary" suit against the Trustee to force him to...
Forum: Brokers October 9th, 2012, 04:46 PM
Replies: 112
Views: 40,876
Posted By FCMReform
PFG Forex Traders Make their Case in Court

The lawyers for PFG's Forex/Metals customers have just filed a motion designed to prevent creditors from laying claim to the funds of forex traders. The hearing for this motion is set for Thursday...
Forum: Brokers October 5th, 2012, 02:35 PM
Replies: 112
Views: 40,876
Posted By FCMReform
It remains to be seen how much money futures...

It remains to be seen how much money futures traders will be getting back either. But trading currency futures and currency spot forex are different products.
Forum: Brokers October 5th, 2012, 01:26 PM
Replies: 112
Views: 40,876
Posted By FCMReform
RFED's do not have seg funds protection either. ...

RFED's do not have seg funds protection either. The issue here is that there is a potential in the PFG Bankruptcy for the bankruptcy judge to parcel out retail forex funds to other creditors...
Forum: Brokers October 5th, 2012, 11:40 AM
Replies: 112
Views: 40,876
Posted By FCMReform
PFG Trustee Moves on to Retail Forex

The Wall Street Journal is reporting that PFG's trustee is now going to address the status of PFG's retail forex customers:

http://online.wsj.com/article/SB1000...googlenews_wsj



Of further...
Forum: Brokers October 2nd, 2012, 12:43 PM
Replies: 112
Views: 40,876
Posted By FCMReform
PFG Forex Traders Still at the Back of the Line

The PFG bankruptcy proceedings are turning into a tragedy for PFG's retail forex customers who may now be forced to stand by and watch their funds be used to reimburse customers who traded...
Forum: Brokers September 28th, 2012, 01:35 PM
Replies: 112
Views: 40,876
Posted By FCMReform
CFTC Releases Roundtable Transcript

The CFTC has released a transcript from the public roundtable that was held in August.
http://www.cftc.gov/ucm/groups/public/@newsroom/documents/file/transcript080912.pdf

While retail forex is...
Forum: Brokers September 25th, 2012, 11:43 AM
Replies: 112
Views: 40,876
Posted By FCMReform
Reuters Special Report on PFG

Reuters has just published an exhaustive two part special report on the fraud perpetrated by Russ Wassendorf. Wassendorf spent tens of millions of dollars on luxury items and in failed business...
Forum: Brokers September 20th, 2012, 08:03 PM
Replies: 112
Views: 40,876
Posted By FCMReform
PFG Distributions Begin

The federal bankruptcy judge in the PFG case authorized a series of initial customer distributions today. PFG Customers to Get Money Back | Fox Business...
Forum: Brokers September 18th, 2012, 01:02 PM
Replies: 112
Views: 40,876
Posted By FCMReform
FCMs are required to file the first full monthly...

FCMs are required to file the first full monthly report pursuant to Financial Requirements Section 16 by October 23, 2012 for the month ended September 30, 2012. NFA intends to add the FCM Financial...
Showing results 1 to 25 of 38

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