Commodity Futures Trading Commission (CFTC) and National
Futures Association (NFA) announced several new rules last week
to stamp out fraudulent fx operations in the US.
NFA addressed the problem in June 2002 when it created a
separate membership category for CFTC-registered firms that
offer off-exchange fx trading. NFA adopted new rules to hold
futures commission merchants (FCMs) accountable in cases where
they use unregulated firms to solicit retail customers for fx
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