- CFTC Regulations — Part 4
Sets forth the regulatory requirements for CPOs and CTAs. Note: This link will take you outside of NFA's website to the Electronic Code of Federal Regulations.
- Disclosure Documents: A Guide for CPOs and CTAs (Updated as of April 2015)
Discusses the requirements CPOs and CTAs must meet under Part 4, presents a sample break-even analysis and performance table, and describes the process NFA's Disclosure Document Review Team uses to approve Disclosure Documents.
April 2015 Revisions: Updated the "Proprietary Trading Results" sections of the guide with minor revisions to clarify that pro-forma adjustments must be made for fees and commissions only.
- Electronic Trading and Order Routing Systems Disclosure Statement
Provides guidance on the differences, risks and limitations of liability of the electronic system utilized in the futures industry.
- Forex Transactions: A Regulatory Guide (Updated as of March 2015)
Provides our Members with an understanding of the requirements that govern off-exchange foreign currency (forex) transactions.
March 2015 Revisions: Updated to incorporate amendments to Bylaw 301, NFA Financial Requirements Section 1, 13 and 14; NFA Compliance Rule 2-38 and 2-48; Interpretive Notice: NFA Compliance Rule 2-10: The Allocation of Bunched Retail Forex Orders for Multiple Accounts; and Interpretive Notice: NFA Compliance Rules 2-4 and 2-36: Prohibition on the Use of Certain Electronic Funding Mechanisms.
- A Guide to NFA Compliance Rules 2-29 and 2-36: Communications with the Public and Promotional Material (Updated as of September 2010) Presents an in-depth discussion of the standards that NFA Members must apply to their advertising.
September 2010 Revisions: Updated to include Compliance Rule 2-36: Requirements for Forex Transactions, which covers communications with the public by Members who solicit retail customers to trade forex. Added additional requirements for forex related promotional material (see page 5).
- Joint Audit Committee Margins Handbook Update
- The Margins Handbook
Provides the policies for monitoring margin risk exposure established by the exchanges and regulatory organizations that participate in the Joint Audit Committee.
- The NFA Manual
Contains the organization's Articles, Bylaws, Compliance Rules and Financial Requirements, Arbitration Code and Member Arbitration Rules, Registration Rules and Interpretive Notices. Upon request, NFA provides one complimentary copy of the NFA Manual to each NFA Member. Additional copies may be purchased for $10.00 each.
- NFA Regulatory Requirements for FCMs, IBs, CPOs and CTAs (Updated as of December 2014)
Discusses how to prepare for an NFA examination, highlights a number of other general regulatory requirements and addresses accounting procedures for FCMs, IBs and Commodity Pools.
December 2014 Revisions: Updated to reflect the amendments to NFA Compliance Rule 2-38, CFTC Regulation 1.10, 1.11, 1.12, 1.15, 1.16, 1.55 and 3.3.
- A Plain English Handbook: How to Create Clear Disclosure Documents
Prepared by the SEC, can be downloaded from the SEC website.
- Recommendations for Best Practices in Order Entry and Transmission of Exchange-Traded Futures and Options Transactions (Word Document)
Discusses issues associated with order transmission and entry procedures for exchange-traded futures and options and the diligent supervision of the order transmission and order entry process by commodity professionals.
- Risk Disclosure Statement for Security Futures Contracts (updated as of April 2014)
April 2014 Revisions: Updated to incorporate amendments to Interpretive Notice: NFA Compliance Rule 2-30(b): Risk Disclosure Statement for Security Futures Contracts..
- Security Futures Products: A Regulatory Guide
Provides our Members who are notice-registered broker dealers with an understanding of the requirements that govern security futures products and the resources needed for offering and trading security futures products for customers.
- Self-Examination Questionnaire: For FCMs, FDMs, IBs, CPOs and CTAs (Updated as of May 2013)
May 2013 Revisions: Revised Supplemental Questionnaire for CPOs – Revised questions relating to CPO reporting requirements due to recent amendments to NFA Compliance Rule 2-46.
NFA Members can file many of their required documents electronically.
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