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Odd to see FXCM going to IPO market, before we have their formal answers on how they will adjust their business model after the Aug. 30th release of new CFTC rules on retail off-exchange forex transactions. See my blog on that. Will FXCM's retail forex trading platforms in the UK and other...

http://online.wsj.com/article/SB10001424052748703713504575475190251222922.html Main article on WSJ today. EU-wide bank levy is job number one this week, but there is also official-preliminary discussion of an additional bank-related tax, an expanded financial-transaction tax (FTT). Not...

Thanks. Please give the link for this Traders Association podcast. I'm not allowed to post links to our site on Elite.

The above posts were edited for my blog on forbes and our website too. Greencompany

Can American off-exchange retail forex traders evade strict new CFTC rules by trading on offshore platforms? September 1, 2010 Yesterday, I blogged about the new CFTC rules for off-exchange retail forex traders, and we included some important questions about the possibilities of trading...

Blog tonight: New CFTC forex trading rules call for 50:1 leverage August 31, 2010 The CFTC has published its highly anticipated final rules for trading off-exchange retail forex. As discussed on prior blogs, the recently enacted Dodd-Frank Fin Reg bill forced the hand of the CFTC to act by...

The CFTC’s new rule calling for a 2% deposit on trading major forex currencies off-exchange (50:1) seems on par with what commercial banks like Citi FX Pro offer their retail forex trading customers now. So it’s a wise move by the CFTC to reduce leverage by two-times (100:1 industry standard...

http://online.wsj.com/article/SB10001424052748704421104575463480313256258.html 2% deposit on major currencies seems on par with what banks like Citi can offer on retail-forex now, as Citi is not regulated by the CFTC. Seems like the regulators were sensitive to chasing business abroad and...

Long Arm Of Congress Leans On Forex Traders http://blogs.forbes.com/greatspeculations/?p=4422 We are discussing this matter on our conference call tomorrow Thursday at 4:15pm ET. Info in link above.

A follow up to my earlier posts on this thread are on another thread. http://www.elitetrader.com/vb/showthread.php?threadid=204053 Bright Trading model changes - which I think are a result of FINRA regulatory notice 10-18. Bright's clearing broker Goldman Sachs seems to have reacted to...

Brits joined the Germans in flatly dismissing an EU-wide FTT. News 3 new results for financial transaction tax _ Financial transactions tax sparks debate Finextra As we have seen in the media this week, EU proposals for a tax on financial transactions have created a storm of debate in...

My tax attorney colleague called back to say the following. Dodd-Frank has one reference to "extraterritorial" (which means foreign http://en.wikipedia.org/wiki/Extraterritoriality) saying the SEC has jurisdiction to regulate extraterritorial swap contracts. See Section 929Y excerpted below. We...

I agree. I think Congress and the regulators don't trust off-exchange trading. They want transparency, no dark pools, reporting, and rules of the road including reasonable leverage and compliance. They certainly don't want what-they-deem unsophisticated speculators working with lightly or...

Congress took a new approach with the CFTC in the Dodd-Frank bill. The CFTC was dragging its feet on Congress's CFTC Reauthorization Act of 2008 (CRA) calling for forex regulation, which had been mostly overlooked by regulators for decades. With Dodd-Frank, retail forex trading will become...

http://uk.mobile.reuters.com/mobile/m/AnyArticle/p.rdt?URL=http://uk.reuters.com/article/idUKTRE6782QW20100809 Brussels preparing proposals for EU-wide tax Reuters UK "There are various options that would not affect the finance ministries and have a link to European policy like a financial...

Per my podcast/blog on Aug 5, 2010. Prop-trading update Goldman Sachs told one of the largest prop-trading firms to change its payouts to prop traders to 80 percent or less, down from 100 percent. FINRA Regulatory Notice 10-18 said that 100 percent payouts were indicative of “beneficial...

On our blog and podcast this week, I discussed Goldman's reaction to Fin Reg and FINRA regulatory notice 10-18 calling for their prop trading firm customers to pay out prop traders 80% or less. I can't post links, so see our site. This podcast is mostly on forex changes in Fin Reg. I will...

submitted this comment This tax will be used for something that has nothing to do with currency exchange. Selecting currency transactions as opposed to all transactions and other exchanges or events makes it an unconstitutional bill of attainder. Rationalizing this tax based on a...

Extend the Bush tax cuts for everyone or no one to avoid tax-class warfare. http://www.greencompany.com/blog/index.php?postid=87 and on my Forbes blog tomorrow at_http://blogs.forbes.com/greatspeculations/author/rgreen/ Robert A. Green

The WSJ ran a few stories about prop traders leaving big banks due to new restrictions on prop trading under Fin Reg - which pundits expect will pass the Senate soon. Schonfeld was listed as one of the prop trading firms that bank prop traders may wind up going to. This may be another...