The Securities and Exchange Commission has not renewed its rule that currently permits broker-dealers, including duly registered future commission merchants, to engage in Forex transactions with any person other than an eligible contract participant. (Click here to access SEC Rule 15b12-1; click here to access the Commodity Exchange Act §1a(18) for a definition of an ECP.) As a result, broker-dealers are prohibited to engage in Forex transactions with non-ECPs as of July 31, 2016. Prohibited Forex transactions do not include spot Forex transactions; forward contracts that create an enforceable obligation to make or take delivery where each counterparty has the ability to deliver and accept delivery in connection with a line of business; or options traded on a national securities exchange. Separately, the National Futures Association submitted to the Commodity Futures Trading Commission for its approval a proposed increase in assessment fees for Forex Dealer Members from US $.02 to US $.04 on each order segment submitted by FDMs to the NFA Forex Transaction Reporting Execution Surveillance System.