On March 13, NFA provided relief from the requirement that all associated persons (APs) who are not located in a member’s main office work from a branch office that has been listed on the member’s Form 7-R, which office must be supervised by a branch office manager. NFA stated that it will not pursue disciplinary action against a member that permits APs to work temporarily from locations not listed as branch offices and without branch managers, provided that the member implements alternative supervisory methods to adequately supervise the APs’ activities and meet its recordkeeping requirements. Member firms should also ensure that these procedures are documented.

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