Annual IB Requirements
National Futures Association has always been committed to providing our Members with the resources they need to meet their regulatory obligations as efficiently as possible. Although no list can capture all of a Member's regulatory responsibilities, there are certain requirements that may not be part of your day-to-day operations. Below is a listing of certain requirements you have for the upcoming year. Again, this list does not capture all of your responsibilities, but it should help remind you of certain non-routine requirements.
- Complete an Annual Questionnaire
- Complete the electronic Annual Registration Update
- Pay your NFA dues (including a $100 registration records maintenance fee for each category of registration) on the anniversary date of your firm's registration. See the Membership and Dues page for the current schedule of dues.
- Complete NFA's Self-Examination Questionnaire
- Submit financial statements to NFA using NFA's EasyFile System (or WinjammerTM for Broker/Dealers)
- Conduct Anti-Money Laundering ("AML") training for relevant employees and complete an audit of your AML procedures and training.
- Supervise the operations of any Branch Offices, including conducting an annual onsite inspection of every Branch Office.
- On at least an annual basis, the FCM that carries your customer accounts will be contacting your customers to verify that the information obtained under NFA Compliance Rule 2-30(c) remains materially accurate, and provide the customer with an opportunity to correct and complete the information. If the FCM notifies you of any material changes to the information, assess whether additional risk disclosure is required to be provided to the customer based on the changed information.
- Test your Disaster Recovery Plan and make any necessary adjustments.
- Provide Ethics Training as outlined in your firm's written Ethics Training Procedures