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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum
GLD 399.01+0.1%Dec 19 4:00 PM EST
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To: bart13 who wrote (129752)2/4/2017 1:01:32 PM
From: Haim R. Branisteanu  Read Replies (4) of 218633
 
But at least the laws were on the books and banks get the fines and the traders are barred from the banking industry. This is only small part of Dodd Frank Act which the administration wants eliminated.

I am not sure you read them or are intimately familiar with them but will give you one example

CFTC Orders The Royal Bank of Scotland to Pay $85 Million Penalty for Attempted Manipulation of U.S. Dollar ISDAFIX Benchmark Swap Rates

cftc.gov

law.cornell.edu

federalreserve.gov

gpo.gov

Please pay attention to § 240.3 Prohibited transactions.

(a) Fraudulent conduct prohibited.

No banking institution or its related persons may, directly or indirectly, in or in connection with any retail forex transaction:
(1) Cheat or defraud or attempt to cheat or defraud any person;
(2) Knowingly make or cause to be made to any person any false report or statement or cause to be entered for any person any false record; or
(3) Knowingly deceive or attempt to deceive any person by any means whatsoever.

(b) Acting as counterparty and exercising discretion prohibited.

A banking institution that has authority to cause retail forex transactions to be effected for a retail forex customer without the retail forex customer’s specific authorization may not (and an affiliate of such an institution may not) act as the counterparty for any retail forex transaction with that retail forex customer.
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