National Futures Association (NFA) recently redesigned its Annual Questionnaire, which applicants are required to submit with their NFA membership applications and current members are required to file annually. On September 29, at 9:30 a.m. CT/10:30 a.m. ET, NFA will host a webinar to address the transition to the new Annual Questionnaire.

Among other changes, the updated Annual Questionnaire:
Continue Reading NFA Announces Webinar to Debut Updated Annual Questionnaire

On August 20, the National Futures Association (NFA) issued Notice I-20-31 highlighting recently published FAQs addressing customer due diligence requirements for covered financial institutions. The FAQs clarify the regulatory obligations of covered financial institutions with respect to obtaining customer information, establishing a customer risk profile and performing ongoing monitoring of the customer relationship.

The FAQs

On August 17, the National Futures Association (NFA) notified its members that amendments to NFA Compliance Rule 2-30(b) regarding risk disclosure statements for security futures contracts became effective on August 14. The amendment to NFA Compliance Rule 2-30(b) updates and replaces the prior risk disclosure statement and creates a 2020 supplement. The updated security futures risk disclosure statement reflects recent amendments to CFTC Regulation 41.25, which governs position limits and position accountability for security futures contracts.
Continue Reading Amendments to Risk Disclosure Statements for Security Futures Contracts Become Effective

On July 22, the Commodity Futures Trading Commission adopted rules (Final Rules) that set minimum financial capital requirements for swap dealers (SDs) and major swap participants (MSPs) that are not subject to prudential regulation (each, a “Covered Swap Entity” or CSE). The capital requirements were originally proposed in 2016, as explained in more detail here.

The core financial require
Continue Reading CFTC Adopts Final Capital Requirements for Swap Dealers

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.
Continue Reading CFTC Extends Relief on Fingerprinting Due to COVID-19

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.
Continue Reading NFA Issues Notice to Members Regarding Compliance Date for Swaps Proficiency Requirement

On June 22, National Futures Association (NFA) issued Notice I-20-26 announcing that the recent amendments made to Part 3 of its Compliance Rules will become effective on August 31, 2020. NFA Compliance Rule 3-14 was amended to allow an NFA disciplinary panel to impose a monetary penalty of up to $500,000 per rule violation at

On June 2, the National Futures Association (NFA) issued Notice I-20-23 to advise member futures commission merchants (FCMs), forex dealers members (FDMs) and introducing brokers (IBs) that the Joint Audit Committee had recently issued Regulatory Alert #20-01 to remind these registrants of the appropriate net capital treatment of guaranteed obligations and liabilities of subsidiaries or affiliates.
Continue Reading NFA Issues Notice to Members Regarding Obligations Guaranteed by FCMs, FDMs and IBs

On May 28, the National Futures Association (NFA) submitted to the Commodity Futures Trading Commission (CFTC) proposed amendments to NFA Interpretive Notice 9045 (Interpretive Notice) regarding the anti-money laundering (AML) Programs that introducing brokers (IBs) (and futures commission merchants) are required to implement.
Continue Reading NFA Proposes Amendments to Interpretive Notice Regarding AML Programs