View Rule

View EO 12866 Meetings Printer-Friendly Version     Download RIN Data in XML
CFTC RIN: 3038-AC61 Publication ID: Fall 2010 
Title: Retail Off-Exchange Forex Transaction Rules 
Abstract: The Food, Conservation and Energy Act of 2008 (the Farm Bill) was enacted June 18, 2008. Within the Farm Bill are several amendments to the Commodity Exchange Act concerning off-exchange retail foreign currency (forex) transactions. Among other things, the legislation creates a new category of Commission registrant known as a "retail foreign exchange dealer" (RFED), provides financial requirements for futures commission merchants and RFEDs who act as counterparties in retail forex transactions, and limits the intermediation of such transactions to registered commodity pool operators, commodity trading advisors and introducing brokers. A proposed rulemaking will provide for the new category of registrant and for regulations concerning registration, maintenance of books and records, anti-fraud, risk-disclosure, supervisory and financial requirements. The proposed rules will also conform those sections of existing regulations that apply to registrants but do not currently include the new category of registrant. 
Agency: Commodity Futures Trading Commission(CFTC)  Priority: Other Significant 
RIN Status: Previously published in the Unified Agenda Agenda Stage of Rulemaking: Completed Actions 
Major: No  Unfunded Mandates: No 
CFR Citation: 17 CFR 5.1 to 5.25    17 CFR 1    17 CFR 3 and 4    17 CFR 10    17 CFR 140 and 145    17 CFR 147 and 160    17 CFR 166   
Legal Authority: 7 USC 1 et seq as amended by PL 110-246, sec 13101 and PL 111-203, Sec. 742   
Legal Deadline:
Action Source Description Date
Final  Statutory    10/19/2010 
Timetable:
Action Date FR Cite
NPRM  01/20/2010  75 FR 3282   
NPRM Comment Period End  03/22/2010    
Final Action  09/10/2010  75 FR 55409   
Final Action Effective  10/18/2010    
Regulatory Flexibility Analysis Required: No  Government Levels Affected: None 
Small Entities Affected: No  Federalism: No 
Included in the Regulatory Plan: No 
RIN Data Printed in the FR: No 
Agency Contact:
William Penner
Deputy Director, Division of Clearing and Intermediary Oversight
Commodity Futures Trading Commission
1155 21st Street NW.,
Washington, DC 20581
Phone:202 418-5407
Email: wpenner@cftc.gov