In an effort to better understand and monitor the financial health of certain members of the National Futures Association (“NFA”), the NFA has submitted a proposal to the Commodity Futures Trading Commission (“CFTC”) that would require commodity pool operators (“CPOs”) and commodity trading advisors (“CTAs”) to report additional information about their financial condition on a regular basis. The recent proposal…...
NIBA “What’s on the Radar at the NFA” Conference Session Recap
NIBA’s September 14 Conference opened up first thing in the morning with a panel discussion on none other than “What’s on the radar at the NFA!” By the look on the faces of the crowed audience, the topics had many eyes wide open…more than your average cup of Latte can do in the morning. The panel, which was moderated by…...
NIBA Compliance Debate Recap
Inspired by this year’s presidential debate, the NIBA hosted its first ever compliance debate at a conference for their 25th year anniversary held at the CME Group on Sept. 14. Robert DeMuria, Vice President and Co-founder of Compliance Supervisors International, and Alexandra Lively, OSMTH United Nations Delegate, moderated the debate with an outstanding group of industry professionals. The panelists included…...
NFA Notice to Members
On August 24, 2016, NFA notified members that effective 2017, they will institute electronic voting. An essential component of the new process is the designation of your Executive Representative – the only person from your firm who will be allowed to cast votes in the contested NFA director elections, and to submit nomination petitions. NIBA supports this initiative. Mike Burke,…...
NIBA’s First-Ever Compliance Debate – September 14th
Do you occasionally feel like there is a huge “gray area” surrounding a regulation? Did you ever think there must be a second or even a third way to approach compliance with a particular rule? Inspired by this year’s Presidential Debates, the NIBA is hosting our first-ever compliance debate! On September 14, during this year’s 25th Anniversary Conference, regulators, attorneys,…...
CFTC & SEC Registration Considerations for Private Fund Managers
Nicole M. Kuchera and Joseph M. Mannon, Vedder Price August 23, 2016 This article provides a simple three step guide to registration considerations for managers of various types of private fund vehicles, such as for hedge funds, fund of funds, private equity funds, venture capital funds, real estate funds and commodity pools. Registration considerations under both the Commodity Exchange…...
The CFTC Proposes Significant Relief For Non-U.S. Market Participants
The U.S. Commodity Futures Trading Commission (“CFTC“), which regulates commodity interest transactions such as swaps and futures contracts, has requested comments from industry market participants on its proposed amendments to CFTC Rule 3.10. CFTC Rule 3.10 sets forth the exemptions that may apply to non-U.S. market participants, and the rule impacts brokers, advisers and fund operators. The CFTC’s stated goal,…...
Just Following Orders
There can be no doubt about the vast, if not monumental, effect that modern technology has brought to the futures broker industry. Processes that were once the purview of man-made machinations, are now fully automated by the gently humming, and beguilingly autonomous computer processors and omnipotent trading platforms. Calculations are being made, trades entered and exited at a speed that…...
Notice to Members I-16-16
Effective date of amendment to Compliance Rule 2-46: Late fee for NFA Forms PQR and PR filings NFA recently amended NFA Compliance Rule 2-46 to impose a $200 late fee on commodity pool operator (CPO) and commodity trading advisor (CTA) Members for each business day the Member files its quarterly NFA Form PQR or PR after the due date. The late fee…...
Ask the NFA
NIBA: Ask NFA June 2016 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…...