On January 7, the National Futures Association (NFA) issued Notice to Members 1-20-01, announcing that a webpage devoted to Swaps Proficiency Requirements will become accessible on January 31, 2020.

Individuals registered as Associated Persons (AP) at Swap Dealers (SD), Futures Commission Merchants (FCM), Introducing Brokers (IB), Commodity Pool Operators (CPO) and Commodity Trading Advisors (CTA), who engage in swaps activity subject to the Commodity Futures Trading Commission’s jurisdiction must satisfy the NFA’s Swaps Proficiency Requirements by January 31, 2021 to remain approved as a swap AP or continue acting as an AP at an SD after this date.

Following January 31, 2021, any individual who wants to start engaging in swaps activity for the entities listed above will need to satisfy NFA’s Swaps Proficiency Requirements prior to being approved as a swap AP or acting as an AP at an SD.

The Notice is available here. NFA has posted Frequently Asked Questions, help guides and other resources on NFA’s Swaps Proficiency Requirements webpage here.