On March 26, National Futures Association (NFA) granted regulatory relief in response to the coronavirus (COVID-19) pandemic, which temporarily extends the deadline for the annual and periodic financial reports introducing brokers (IBs) are required to file.
NFA Financial Requirements Section 5 and CFTC Rule 1.10 require independent IBs to file certified financial reports as of the close of their fiscal year end within 90 days after the close of such fiscal year or within 60 days for IBs that are also broker-dealers registered with the Securities and Exchange Commission. In addition, IBs must file unaudited financial reports either semi-annually, quarterly or monthly within 17 business days of the date for which the report is prepared.
NFA is providing all independent IBs an extension of 30 calendar days for filing certified financial reports for fiscal years ending in December 2019 through March 2020. Further, NFA is providing all independent IBs an extension of 10 business days for filing the semi-annual, quarterly or monthly reports for reporting periods ending February through April 2020. All independent IB automatically qualify for the extensions.
More information is available here.