Ask NFA – November 2017

As your industry advocate, the NIBA provides many services which help your business stay in compliance with NFA regulations. “Ask the NFA,” is the way you can ask questions about those regulations and compliance requirements without having to call NFA directly. Just email us at [email protected] and we will get the answers for you. Please keep in mind the purpose of this…...

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Housekeeping, Reminders and Updates – October 2017

Written by: Mark E. Ruddy, Esq. Maria Fielding   Increase in National Futures Association (“NFA”) Assessment Fee The NFA’s Executive Committee is recommending an increase in the NFA’s assessment fee beginning January 1, 2018. The Executive Committee voted in favor of recommending that the assessment fee increases from $0.01 per side to $0.02 per side for futures and options contracts,…...

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NIBA Comment Letter – CFTC Project KISS

NIBA – The Association for Derivatives Professionals 55 W. Monroe, Ste. 3600 Chicago, IL 60603 (312) 977-0598 www.theniba.com BY ELECTRONIC SUBMISSION Christopher Kirkpatrick, Secretary Commodity Futures Trading Commission 1155 21st Street, NW Washington, DC 20581 September 28, 2017 Re: CFTC Request for Public Input to Make Regulations(s) Simpler, Less Burdensome and Less Costly (Project KISS) Mr. Kirkpatrick: The NIBA appreciates…...

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Compliance Supervisors International Welcomes John Brand

Compliance Supervisors International Inc. (“CSI”), is excited to welcome John Brand to lead our Chicago Compliance Division. John is an excellent addition to CSI, and we look forward to leveraging his extensive and deep industry knowledge, with the current and ever-changing compliance and regulatory policies to better help our clients.  Mr. Brand’s compliance and examination experience spans across two decades,…...

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Ask NFA: October 2017

As your industry advocate, the NIBA provides many services which help your business stay in compliance with NFA regulations. “Ask the NFA,” is the way you can ask questions about those regulations and compliance requirements without having to call NFA directly. Just email us at [email protected] and we will get the answers for you. Please keep in mind the purpose of this…...

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Housekeeping, Reminders & Updates – September 2017

  National Futures Association (“NFA”) Updates Financial Statement Filings The NFA is adding additional questions to independent introducing brokers’ (“IBs’”) financial statement filings beginning with the September 30, 2017 filings. The additional questions do not concern new information being collected by the NFA, but rather information that had previously been collected by way of a follow up from the NFA…...

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Ask NFA – August 2017

As your industry advocate, the NIBA provides many services which help your business stay in compliance with NFA regulations. “Ask the NFA,” is the way you can ask questions about those regulations and compliance requirements without having to call NFA directly. Just email us at [email protected] and we will get the answers for you. Please keep in mind the purpose of this…...

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Housekeeping – August 2017

Written by: Mark E. Ruddy, Esq. Maria Fielding, Legal Assistant   Three of the Commodity Futures Trading Commission (“CFTC”) Nominees Confirmed The United States Senate confirmed J. Christopher Giancarlo as Chairman and Rostin Behnam and Brian Quintenz as commissioners of the CFTC. The Senate did not vote on the fourth and final nominee currently awaiting confirmation, Dawn DeBerry Stump. As…...

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Ascent Introduces Intelligence-as-a-Service

What is Intelligence as a Service? Intelligence-as-a-Service (“IntaaS”) is the combination of automated domain expertise with traditional internet software. Imagine if your CRM came pre-filled with customer information, your taxes were pre-loaded and completed in your tax software, or your digital compliance system was pre-filled with all your data: this is the promise of IntaaS. Software-as-a-Service reduced the marginal cost…...

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Housekeeping, Reminders and Updates – July 2017

Written by:      Mark E. Ruddy, Esq. Jessica I. Brown, CAMS Commodity Trading Advisors (“CTAs”) Third-Party Record Keeping Relief CTAs now have the ability to request relief from certain Commodity Futures Trading Commission (“CFTC”) Regulation 4.33 and 4.7(c)(2) record-keeping requirements. CFTC Exemptive Letter No 17-24 provided CTAs relief from the requirement that books and records must be kept at the registrant’s…...

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