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It's been like that for a very long time now. It's been like that the years I was a registered person with the NFA working in the industry. I don't know what else to tell ya. I just gave you the link with them imposing a half a million dollar fine on Oanda.....
The CFTC are also the ones that booted fxcm out of the US and literally forced them to give their US business to Forex.com.
All you have in the US is SEC and CFTC for the corresponding and appropriate Market regulatory bodies.
Hope I didn't get all those regulatory questions wrong in all the series exams I took...haha
Maybe wiki it.
Can you help answer these questions from other members on NexusFi?
