Alpari's Skowronski appointed member of NFA's FDM Advisory Committee

Alpari just announced Daniel Skowronski’s appointment to the National Futures Association’s (NFA) Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term Dealer Member (FDM) Advisory Committee. The primary responsibilities of the FDM Advisory Committee are to perform an ongoing review of NFA’s rules and discuss regulatory issues impacting FDMs. The committee also makes recommendations concerning rule divisions to the NFA’s Executive Committee and Board. Mr. Skowronski serves as Global Chief Commercial Officer as well as Alpari (US) Chief Executive Officer and has over 18 years of experience in the Forex business market.

It's about time NFA did something like this. I've criticized many of NFA's decisions the past two years such as the infamous anti-hedging rule and others. Over the years I argued that NFA may have the best intentions in mind but it just lacks deep understanding of retail forex and the way retail forex brokers operate. Sure most of them abuse the rules and the system and are subsequently heavily fined for that, but it doesn't mean that all of them are evil or that this market needs to be shut down. It just needs to be properly regulated by an organization which understands how to adequately regulate it without destroying it. I hope this is just the first move in a series of many made by the NFA.