SEC Delays Retail Forex Trading Ban For Year

Law360, New York (July 13, 2011, 5:45 PM EDT) -- The U.S. Securities and Exchange Commission on Wednesday voted to delay by one year implementation of a rule blocking brokers from trading in foreign currencies for retail clients.

The bar on retail foreign exchange transactions, required under the Dodd-Frank Wall Street Reform and Consumer Protection Act, was set to go into effect Saturday. But in response to concerns from brokerage houses that the rule would hinder international stock trades, the SEC delayed its effective date until July 16, 2012, which will provide time for a review...
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