Stiffer Capital Rules for Retail Currency Dealers Backed by CFTC
This article is for subscribers only.
U.S. regulators moved to crack down on retail currency markets by endorsing rules that will boost capital requirements after Swiss franc losses left a leading brokerage needing a $300 million rescue earlier this year.
The Commodity Futures Trading Commission on Thursday backed steps meant to improve transparency and bolster resources of currency dealers when they face risks from overseas transactions. Two commission members said they would consider taking additional steps to rein in the market.