Alpari just announced Daniel Skowronski’s appointment to the National Futures Association’s (NFA) Forex Dealer Member (FDM) Advisory Committee. The primary responsibilities of the FDM Advisory Committee are to perform an ongoing review of NFA’s rules and discuss regulatory issues impacting FDMs. The committee also makes recommendations concerning rule divisions to the NFA’s Executive Committee and Board. Mr. Skowronski serves as Global Chief Commercial Officer as well as Alpari (US) Chief Executive Officer and has over 18 years of experience in the Forex business market.
It’s about time NFA did something like this. I’ve criticized many of NFA’s decisions the past two years such as the infamous anti-hedging rule and others. Over the years I argued that NFA may have the best intentions in mind but it just lacks deep understanding of retail forex and the way retail forex brokers operate. Sure most of them abuse the rules and the system and are subsequently heavily fined for that, but it doesn’t mean that all of them are evil or that this market needs to be shut down. It just needs to be properly regulated by an organization which understands how to adequately regulate it without destroying it. I hope this is just the first move in a series of many made by the NFA.
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