NIBA in Washington DC

Your NIBA representatives will be travelling to Washington D.C. next month to meet with our industry’s top regulators to discuss issues that are important to our membership.  If you have a topic or concern you would like to discuss with NIBA please reach out to us at [email protected]  Part of the NIBAs mission is to be a voice to the…...

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AML Program Changes – Deadline Looms

Have you updated your AML Program to comply with the FinCEN changes going into effect on May 11, 2018? Most Futures Commission Merchants (“FCMs”) have implemented changes to their Anti-Money Laundering Programs (“AML Programs”) in accordance with the Financial Crimes Enforcement Network’s (FinCEN) final rules issued on July 11, 2016. These FinCEN final rules must be incorporated into all FCM…...

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Housekeeping, Reminders & Updates – March 2018

Written by: Mark E. Ruddy, Esq., Maria Fielding National Futures Association (“NFA”) Stays Virtual Currency Reporting Requirements NFA announced on December 14, 2017 that it would require additional reporting requirements from commodity pool operators (“CPOs”) and commodity trading advisors (“CTAs”) who are involved in virtual currency transactions and introducing brokers (“IBs”) who accept orders in virtual currency derivatives. On March…...

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Update NFA Annual Questionnaire regarding Virtual Currencies

On December 14, 2017, NFA issued Notices I-17-28 and I-17-29 requiring commodity pool operators (CPO) and commodity trading advisors (CTA) that execute transactions involving virtual currencies or virtual currency derivatives and introducing brokers (IB) that solicit or accept orders in virtual currency derivatives to immediately notify NFA by amending the firm-level section of the annual questionnaire. NFA reminds CPOs, CTAs and IBs that this is an…...

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Ask NFA – Feb 2018

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…...

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NFA Annual Members Meeting

On Tuesday, February 6, the NFA held its annual members meeting. For the umpteenth year in a row, I was the only NFA member attending. I attended in order to present NFA staff members with questions from the NIBA membership – questions which IBs/CTAs might not want to ask the NFA directly. As they always are, NFA staff was very…...

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Can you Firm Benefit from the New Tax Laws?

Michael Coglianese will be presenting this topic in an online presentation which will be made available to NIBA members.  This effort is being co sponsored by the NIBA and John Lothian.  All IB/CTA/CPO owners or interested parties should tune in as this session will highlight real changes you can make to your firms’ structure to best position yourself for the…...

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5 Things to Know When starting a Cryptocurrency Fund

The cryptocurrency asset class is here to stay and growing at warp speed. The stories are real.  Some cryptocurrency traders have turned $100,000 into $1,000,000 in less than a year.  Now those traders are creating cryptocurrency funds so they can trade on a multimillion dollar scale. This article will focus on five things you should know before setting up your…...

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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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