NFA Updates Self-Examination Questionnaire for FCMs, FDMs, IBs, CPOs, and CTAs | Practical Law

NFA Updates Self-Examination Questionnaire for FCMs, FDMs, IBs, CPOs, and CTAs | Practical Law

The National Futures Association (NFA) updated the self-examination questionnaire that all NFA members are required to submit annually. The revised questionnaire incorporates recent changes to the NFA rules and CFTC regulations.

NFA Updates Self-Examination Questionnaire for FCMs, FDMs, IBs, CPOs, and CTAs

Practical Law Legal Update w-000-7025 (Approx. 3 pages)

NFA Updates Self-Examination Questionnaire for FCMs, FDMs, IBs, CPOs, and CTAs

by Practical Law Finance
Published on 22 Oct 2015 • USA (National/Federal)
The National Futures Association (NFA) updated the self-examination questionnaire that all NFA members are required to submit annually. The revised questionnaire incorporates recent changes to the NFA rules and CFTC regulations.
On October 16, 2015, the National Futures Association (NFA) updated the self-examination questionnaire that all NFA members are required to submit annually. These NFA members include futures commissions merchants (FCMs), forex dealer members (FDMs), introducing brokers (IBs), commodity pool operators (CPOs), and commodity trading advisors (CTAs). The revised questionnaire incorporates recent changes to the NFA rules and CFTC regulations.
The supplemental questionnaire for CFTC merchants has added a series of questions relating to the CFTC's enhanced customer protection rules, including:
  • Recordkeeping and reporting with respect to customer funds (margin posted to collateralize futures).
  • The development and implementation of a risk management program.
  • Recordkeeping with respect to customer transactions.
  • The development and publication of a firm-specific disclosure document.
For further information on the NFA, see Legal Update, CFTC Requires CPOs, CTAs and IBs to Register as NFA Members.