Proposed NFA Capital Requirement

"bought 51% of Crown Forex SA in December 08"

That thing was such an obvious scam (zero spread/no commission/swiss domicile). Bought it right before it got shut down too. Its almost funny.
 
This is what the regulator said when I asked if any other companies were in line:

"Actually we do not think, that there will be much more in near future. As we mentioned when the law changed in April 08, we expect to have at the end about five to ten approved dealers. By the way: you find the documentation regarding the change of law on our webpage (http://www.finma.ch/archiv/ebk/e/aktuell/index.html)."
 
20M is the minimum for a FDM. If a firm does not offset all client positions immediately the firm must set aside additional funds to account for this risk.
 
Quote from Pippi436:

20M is the minimum for a FDM. If a firm does not offset all client positions immediately the firm must set aside additional funds to account for this risk.
More...
No we take the greatest ,
(c): A firm's net capital requirement is the greater of
(1) $250,000; or
(2) risk based capital requirement, the sum of 8% of total customer
risk maintenance margin and 4% of total noncustomer risk
maintenance margin; or
(3) The amount of capital required by a registered futures
association (currently NFA is the only such association); or
(4) for securities brokers and dealers, the amount of net capital
required by Rule 15c3-1(a) of the Securities and Exchange
Commissio
Now ignore 4 for forex dealers , and this is for 3 : •
$5,000,000; or
•
5% of all liabilities owed to customers (Forex Dealer Members must report the total amount of liabilities owed to customers as an itemized “other” payable at Line 27.J of the Statement of Financial Condition. For purposes of this required reporting by Forex Dealer Members, the term “customer” refers to a counterparty that is not an “eligible contract participant,” as defined in Section 1a(12) of the Commodity Exchange Act.)

I guess this 5 M figure is old it is 20 M now as we know ...
 
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