On January 5, the National Futures Association (NFA) issued Notice I-21-01, reminding member firms that the compliance date for NFA’s Swaps Proficiency Requirements (Requirements) is January 31 (Compliance Date).
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NFA Issues Notice to Members Regarding Compliance Date Swaps Proficiency Requirements
On December 8, the National Futures Association (NFA) issued Notice I-20-45 to remind member firms that the compliance date for NFA’s Swaps Proficiency Requirements (Requirements) is January 31, 2021 (Compliance Date). As more fully discussed in the July 10, 2020 edition of the Corporate & Financial Weekly Digest,
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NFA Issues Notice on Expiration of Temporary Relief from Fingerprinting Requirements
On October 6, the National Futures Association (NFA) issued Notice I-20-37 to announce changes to the no-action relief that had previously been issued relating to fingerprinting requirements for applicants for registration as an associated person (AP) and natural person principals of an applicant or registrant found at NFA Registration Rules 204(a)(2)(A) and 206(a)(1)(A).
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CFTC Extends Relief on Fingerprinting Due to COVID-19
On July 17, the Commodity Futures Trading Commission’s Division of Swap Dealer and Intermediary Oversight (DSIO) announced that it has extended the time period for the no-action relief provided in CFTC Staff Letter No. 20-16 to registrants listing new principals and to applicants for registration as associated persons (APs) from the requirement to submit a fingerprint card.
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NFA Issues Notice to Members Regarding Compliance Date for Swaps Proficiency Requirement
On July 8, the National Futures Association (NFA) issued Notice I-20-27 to remind member firms that the compliance date for NFA’s Swaps Proficiency Requirements (Requirements) is January 31, 2021 (Compliance Date). NFA Members with associated persons (AP) required to satisfy the Requirements must ensure that covered individuals are in compliance by the Compliance Date. Individuals who do not satisfy the Requirements by the Compliance Date will be unable to engage in swaps activities until they have done so.
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CFTC and NFA Issue Temporary No-Action Relief for Principal or Associated Person Listings/Registrations
On April 24, at the request of the National Futures Association (NFA), the staff of the Commodity Futures Trading Commission (CFTC) issued a no-action letter providing regulatory relief to principals of registrants and applicants for associated person (AP) registration with respect to submission of fingerprint cards.
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NFA Provides Relief From Branch Office Requirements for Associated Persons
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…
NFA’s Swaps Proficiency Requirements Effective and Available Online
On January 27, the National Futures Association (NFA) issued a notice to members as a reminder that the effective date for NFA’s Swaps Proficiency Requirements (Requirements) is January 31, and that the Requirements must be completed by applicable individuals by the January 31, 2021 compliance date. The Requirements are now available online here.
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