Washington Watch for the Forex Industry — October 2009
Will Derivatives Reform Affect Retail Forex?
By Charlie Delano
Director of Government Affairs, FXCM
Over the past several months, a number of bills have been drawn up in both the House and Senate that would dramatically overhaul the financial services industry. The collapse of Lehman Brothers in September 2008 and the ensuing credit crisis has spawned a reform movement intent on regulating the over the counter (OTC) derivatives market, which has become public enemy number one in the eyes of many in Washington.