Summary
Dealers who cannot meet the new $5 million minimum capitalization requirements by December 21 are scrambling to merge, repositioning themselves as software providers or preparing to go out of business. In his September 26 congressional testimony, Daniel J. Roth, president and CEO of National Futures Association (NFA), said that members acting as counterparties to retail forex transactions account for less than 1% of NFA's membership, but that they also account for more than 20% of customer complaints and more than 50% of NFA's enforcement docket and emergency enforcement actions taken this year.
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Extract
Forex Min Cap Increases
Having a hard time getting your forex dealer on the phone? Dealers who cannot meet the new $5 million minimum capitalization requirements by Dec. 21 ...
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