Brokers' License; A voluntary action?

F

forexpolice

This is a question that bothers me. All regulated brokers are given licenses from each regulatory bodies. Is this a voluntary action by the forex brokers or did the government force regulation on them? If it is a voluntary action by Brokers, does the regulatory bodies have the power to shut down a broker for illegal activities?

Your kind answers will be appreciated.
 
forexpolice said:
This is a question that bothers me. All regulated brokers are given licenses from each regulatory bodies. Is this a voluntary action by the forex brokers or did the government force regulation on them? If it is a voluntary action by Brokers, does the regulatory bodies have the power to shut down a broker for illegal activities?

Your kind answers will be appreciated.
More...

FX in the USA is regulated by the NFA/CFTC. Yes, they can shut them down.

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