January 13, 2010

US CFTC goes after foreign currency trading fraud

WASHINGTON — Federal regulators have taken a first step toward reining in oil speculation.

By Tom Doggett

WASHINGTON, Jan 13 (Reuters) - The U.S. futures market regulator on Wednesday proposed rules that would make it easier to fight retail fraud in foreign currency trading taking place outside of regulated futures exchanges.

The Commodity Futures Trading Commission was given clearer authority in farm legislation passed by Congress in 2008 to go after foreign currency (forex) trading scams being pulled off in the unregulated over-the-counter market.

Read Full Article on Reuters.com.

Last Updated: February 25, 2011