Retail FX platforms braced for further consolidation
Banks and brokers in the retail foreign exchange market have experienced major changes over the past year as regulators have sought to clamp down on the market and platforms have begun to consolidate in response. In the latest move, the Federal Deposit Insurance Corporation (FDIC) announced a draft package of measures on May 10 that would impose stricter rules on how US banks deal with retail customers.
The rules, which aim to fulfil requirements laid out in section 742 of the Dodd-Frank Act
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