Update on the Securities and Exchange Commission Public Notice on Online Retail Foreign Exchange Trading

Online retail foreign exchange trading involves electronic trading including the process whereby individuals speculate on the exchange rate between currencies and the process of buying and selling of different currencies. The platform has risen in the past few years and amounts to a significant minority of foreign exchange trading. Despite its growing popularity, online retail foreign exchange trading has been fraught with fraud, thereby necessitating the issuance of precautionary advices by sector regulators in various countries on the need to trade with caution.