At the writing of this entry, the US FDIC, the US Banking Regulators, is scheduled to vote on a proposal that would control the way banks and FOREX Retail Customers conduct the business of trading in the FX Marketplace. The Banking Regulators (i.e. the FDIC staff) want the FOREX Retail Customers to put up 2% of the margin required to trade the major currencies, i.e. EURUSD, GBPUSD etc... and then, post 5% of the margin required to trade some of the more exotic currencies like the SGDHKD (Singapore Dollar vs the Hong Kong Dollar). It seems that the proposals greatest impact is upon those FOREX Retail Traders that trade through banks and brokers that are not cleared through a major clearing house.
For more information on the FDIC Initiatives under the Dodd-Frank Wall Street Reform and Consumer Protection Act visit http://www.fdic.gov/regulations/reform/initiatives.html the official website of the regulatory agency, the FDIC.
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