Revised financial requirements for FCMs and IBs
Felix Shipkevich - March 31, 2010The CFTC’s revised financial requirements for FCMs and IBs and NFA’s amendments to NFA Financial Requirements Section 1 are effective as of March 31, 2010.
NFA grants conditional registration despite omissions
Felix Shipkevich - March 29, 2010On the basis of the consent evidenced by the Offer, and without any adjudication on the merits, the Subcommittee orders that Rischall’s floor broker/floor trader registration be hereby granted subject to five conditions.
NFA denies registration on account of willful omission
Felix Shipkevich - March 25, 2010On December 26, 2008, Chris Cameron filed an application to become registered with the Commodity Futures Trading Commission as a Floor Trader. On September 16, 2009, the NFA issued a Notice of Intent to Deny Registration to Cameron. The Notice alleged that on June 15, 2005, Cameron pled nolo contendere to the felony offense of [...]
Registration Overview for Forex IB, CTA and CPO Applicants
Felix Shipkevich - February 28, 2010As part of the reauthorization of the Commodity Futures Trading Commission (CFTC) in May 2008, Congress amended the Commodity Exchange Act to require forex solicitors, account managers and pool operators to register with the CFTC as Introducing Brokers (IBs), Commodity Trading Advisors (CTAs) or Commodity Pool Operators (CPOs) and become Members of National Futures Association.
The [...]
Members must retain a registered Principal over whom NFA has jurisdiction
Felix Shipkevich - June 9, 2009Failure to retain at least one Principal registered as an “associated person” will henceforth be regarded by the NFA as a request to withdraw from NFA membership, unless membership is in the contract market category.
Articles of Incorporation amended to “provide NFA with additional flexibility regarding FCM representation” on its Board
Felix Shipkevich - May 18, 2009Effective May 18, the NFA’s Articles of Incorporation will mandate that the FCM Nominating Committee fill the NFA’s eight FCM dedicated Board seats by drawing two representatives from top ten ranked FCMs, two from non-top ten FCMS, and four at large.
Forex News
Felix Shipkevich - September 4, 2008NFA Announcement: Definition of a Forex Dealer Member:
Proposed Amendments to NFA Bylaw 306, NFA Financial Requirements
Section 11(a), and the Interpretive Notice Regarding Forex Transactions
http://www.nfa.futures.org/news/PDF/CFTC/Bylaw306_FR11a_c082208.pdf
