SEC · other · Published 2011-07-15 · Effective 2011-07-15 · 76 FR 41676
Document
Document number
2011-18009
Federal Register citation
76 FR 41676
CFR reference
17 CFR 240
Type
Rule
Action
Interim final temporary rule; request for comments.
Category
other
Agency
US Securities and Exchange Commission
Publication date
2011-07-15
Effective date
2011-07-15
Docket
Release No. 34-64874
Abstract
Under section 742(c) of the Dodd-Frank Wall Street Reform and Consumer Protection Act ("Dodd-Frank Act"), certain foreign exchange transactions with persons who are not "eligible contract participants" (commonly referred to as "retail forex transactions," and as further defined below) with a registered broker or dealer ("broker-dealer") will be prohibited as of July 16, 2011, in the absence of the Commission adopting a rule to allow such transactions under terms and conditions prescribed by the Commission. The Commission is adopting interim final temporary Rule 15b12-1T to allow a registered broker-dealer to engage in a retail forex business until July 16, 2012, provided that the broker-dealer complies with the Securities Exchange Act of 1934 ("Exchange Act"), the rules and regulations thereunder, and the rules of the self-regulatory organization(s) of which the broker-dealer is a member ("SRO rules"), insofar as they are applicable to retail forex transactions.