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

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

The National Futures Association (NFA) has issued Notice I-15-28, which discusses the legal entity identifiers (LEIs) that are now being used in the NFA’s swap dealer/major swap participant registry (SD/MSP Registry).
Continue Reading NFA Issues Notice on the Inclusion of Legal Entity Identifiers in the Swap Dealer/Major Swap