July 16, 2011- Dodd Frank Bill

Apparently, this legislation is aimed at prohibiting U.S. traders from trading overseas to escape the CFTC regulations. It becomes effective on July 16, 2011. I think that they will fail in their futile attempt to put a dog collar on all of us Americans. Not all of the brokers will bend to their will.

Check out the link here:

Investment Law Group - Foreign Banks Still Eligible Counterparties for Retail Forex Traders

What say you in this regard?