12/12/2013 3:33:37 PM PST
· 8 of 8 h20skier66
to Kevmo; dirtymac
The bigger issue here is the cost of implementation. 1) cost for business to install systems for monitoring 2) cost of cataloging and storing records for a year on site then 5 years off site 3) cost of regulators to review monitoring and historical records. What appears to be simple isn't so simple when one takes a step back. This doesn't even consider the privacy implications; now government will have a record of every financial transaction made sortable by person and conversation.
Important information for OTC forex and precious metals traders. Also US citizens with forex accounts abroad may be touched by the Dodd Frank requirements effective as of today.
Important information for investors and fund managers to be aware of. NFA and the CFTC looking trying to not be embarrassed like the SEC and FINRA on Madoff.