NFA's role in the U.S. futures industry

Introduction
NFA's Role in the U.S. Futures Industry
How NFA Fights Fraud and Abuse
Resources for Investors
Dispute Resolution
Making Self-Regulation Work
Meeting the Regulatory Needs of an Evolving Industry

NFA's Role in the U.S. Futures Industry

In 1974 Congress established the Commodity Futures Trading Commission (CFTC), a federal regulatory agency with jurisdiction over futures trading. The same legislation authorized the creation of "registered futures associations," giving the futures industry the opportunity to create a nationwide self-regulatory organization.

The CFTC provides government oversight for the entire industry. Each U.S. futures exchange operates as a self-regulatory organization, governing its floor brokers, traders and member firms. NFA regulates every firm or individual who conducts futures trading business with public customers. Although the various regulatory organizations in the futures industry have their own specific areas of authority, together they form a regulatory partnership that oversees all industry participants.