On October 11, the National Futures Association (NFA) issued a notice to its members that amendments to NFA Bylaw 1303 take effect on October 31.
NFA Bylaw 1303 allows the NFA to deem an NFA member’s failure to pay certain fees as a request for withdrawal from NFA membership. Bylaw 1303 will be deemed amended, effective as of October 31, to specify that failure to pay fees related to NFA Financial Requirements Section 10 (Late Financial Reports), NFA Financial Requirements Section 13 (Forex Dealer Member Reports), NFA Compliance Rule 2-46 (CPO and CTA Quarterly Reporting Requirements) and NFA Compliance Rule 2-48 (Forex Dealer Daily Trade Data Reports) will each result in a withdrawal of NFA membership. The amendments also make consistent the time periods upon which withdrawals under Bylaw 1303 are effective.
Bylaw 1303 and the amendments are available here.