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On May 24, the National Futures Association (NFA) issued Notice to Members 1-21-16, announcing the effective date for NFA Member swap dealer and major swap participant dues increases.

NFA Bylaw 1301 imposes annual dues on NFA Member swap dealers (SD) and major swap participants (MSP). The current annual dues amounts have remained unchanged, except for a reduction in MSP annual dues, since NFA established its swap regulatory program in 2013. Given the expansion of NFA’s swaps regulatory program over the past eight years and to fund its operations and maintain adequate reserves, NFA’s Board of Directors, on May 20, unanimously approved the following increases to these annual dues amounts:
Continue Reading Effective Date for NFA Member Swap Dealer and Major Swap Participant Dues Increases

On November 19, the Commodity Futures Trading Commission’s Division of Market Oversight (DMO) issued a staff letter extending no-action relief to certain CFTC-registered swap dealers (SDs) and major swap participants (MSPs). The no-action relief, which was initially granted in 2013 and subsequently extended several times, was set to expire on December 1.
Continue Reading CFTC Extends Temporary Swap Data Reporting Relief for Certain International Swap Dealers and Major Swap Participants

On February 20, the Commodity Futures Trading Commission (CFTC) unanimously approved two proposed rules to revise its regulations relating to swap data reporting, dissemination and public reporting requirements for market participants.
Continue Reading CFTC Approves Revisions to Swap Data Reporting, Dissemination and Public Reporting Requirements for Market Participants

National Futures Association (NFA) has issued a notice reminding its swap dealer (SD) and major swap participant (MSP) members of their obligations under the new uncleared swap margin requirements adopted by the Commodity Futures Trading Commission. Under the CFTC’s new margin rules, SDs and MSPs that are not subject to oversight by a prudential regulator must calculate their initial margin using either a standardized model set forth by the CFTC or an internal risk-based model that has been approved by the CFTC or NFA. More information related to the margin requirements is available in the Corporate & Financial Weekly Digest edition of December 18, 2015.
Continue Reading NFA To Review Initial Margin Models for SDs and MSPs

National Futures Association (NFA) has revised its review process for swap dealer (SD) and major swap participant (MSP) applications under Section 4s of the Commodity Exchange Act. Effective immediately, SDs and MSPs are no longer required to submit additional documentation or revisions in response to NFA’s feedback letters. (As background, NFA issues a feedback letter to an SD or MSP after it has conducted a detailed review of the firm’s Section 4s submission.)
Continue Reading NFA Revises SD and MSP 4s Review Process

National Futures Association (NFA) will hold an audio conference on Thursday, September 24, at 11:00 a.m. ET to help prepare swap dealers (SDs) and major swap participants (MSPs) for their upcoming examinations. Interested persons should register in advance here.

A recording of the conference will be available on NFA’s website beginning September 25, and…