SEC Extension of Rule on Retail Foreign Exchange Transactions

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On July 11, the SEC amended interim final temporary Rule 15b12-1T to extend the date on which the rule will expire from July 16, 2012 to July 16, 2013. On July 13, 2011, the SEC adopted the temporary rule which permits a broker-dealer to engage in a “retail forex business”. SEC Temporary Rule.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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