Federal law and NFA rules require Introducing Brokers to maintain an Anti-Money Laundering program implemented by written policies, procedures and controls. NFA provides a number of materials to help IBs…
In a sense, introducing brokers act as gatekeepers to the futures and derivatives markets. Following the passage of the Dodd-Frank Act, certain OTC products which were formerly not regulated are…
Recently, the Commodity Futures Trading Commission (“CFTC”) issued an interpretive letter regarding new CFTC Regulation 1.73 and its applicability to introducing brokers (“IBs”) that enter into give up arrangements with…
A number of factors are having a significant impact on NFA's operating budget for Fiscal Year 2014. The substantial expansion of NFA's regulatory duties has resulted in an 18 percent…
This is a reminder that Monday, May 27, 2013 is Memorial Day. This holiday will impact your regulatory filings as follows: Daily segregated, 30.7 secured, sequestered and daily forex statements…
While most of the attention in the futures industry has been focused upon the new swaps regulatory framework, the Commodity Futures Trading Commission (“CFTC”) and the National Futures Association (“NFA”)…
Every five years, the Commodity Exchange Act must be “re-authorized” by Congress. The Senate is gearing up for that process now. We hope that strengthening customer protections will be the…
After a busy audit season that included many new rules implemented by NFA and CFTC, we would like to share some reminders and insights. Use of Online Payment Systems If…
FCM Responsibilities for the Review and Approval of their Guaranteed Introducing Brokers' Communications with the Public Recently, NFA has experienced a sharp increase in the number of promotional material submissions…
Chief Compliance Officer Requirements Become Effective for All FCMs on March 29, 2013 As we notified Members in Notice I-12-21, the Chief Compliance Officer (CCO) requirements under CFTC Regulation 3.3…
