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How does the waiver process work?

Firms may ask for a partial or full waiver from complying with the enhanced supervisory requirements by filing a petition with the three-person Telemarketing Procedures Waiver Committee within 30 days after NFA notifies the firm that it is required to adopt the requirements. If your firm fails to file a timely waiver request, then it may not ask for a full or partial waiver again until at least two years have passed since the firm adopted the enhanced procedures. Similarly, if the Waiver Committee denies your waiver request, your firm may not ask for a waiver again until at least two years have passed since your firm adopted the required enhanced procedures.

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