Retail Foreign Exchange Transactions

Section 742(c)(2) of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 amended the Commodity Exchange Act to require that U.S. financial institutions may not enter into agreements, contracts, or transactions in foreign currency that are contracts or sales of a commodity for future delivery or an option, other than those executed or traded on a national security exchange under section 6(a) of the Securities Exchange Act of 1934 with a retail customer except pursuant to a regulation of a Federal regulatory agency. The OCC prescribed disclosure, recordkeeping, capital and margin, reporting, business conduct, and documentation requirements necessary to regulate these transactions for national banks, Federal branches and agencies of foreign banks, and their operating subsidiaries.

The latest form for Retail Foreign Exchange Transactions expires 2023-05-31 and can be found here.