The National Futures Association (NFA) submitted to the Commodity Futures Trading Commission for approval a proposal to amend NFA Bylaws 1301, 1302 and 1303 and the Interpretive Notice regarding Forex Transactions. NFA Bylaw 1301(e) imposes annual dues on Forex Dealer Members(FDMs) based on their gross annual revenue from their forex business. NFA indicated in its filing that the number of active FDMs has increased and the liabilities to customers has continued to rise since the dues were last increased in 2005. The proposed amendments would (i) raise the minimum and maximum annual dues, (ii) add a transaction fee based on the notional value of each transaction, and (iii) add a charge for unregulated entities that solicit or introduce retail business or manage retail accounts for the FDMs.

http://www.nfa.futures.org/news/newsProposedRule.asp?ArticleID=1862