CFTC Rule Submissions

Ms. Jean A. Webb
Secretariat
Commodity Futures Trading Commission
Three Lafayette Centre
1155 21st Street, N.W.
Washington, DC 20581

Re: National Futures Association: Proposed Amendments to NFA Registration Rules 202, 203, 204, 801 and 802 and NFA Bylaw 301(j)*

Dear Ms. Webb:

Pursuant to Section 17(j) of the Commodity Exchange Act, as amended, National Futures Association ("NFA") hereby submits to the Commodity Futures Trading Commission ("CFTC" or "Commission") proposed amendments to NFA Registration Rules 202, 203, 204, 801 and 802 and NFA Bylaw 301(j). The amendments were unanimously approved by NFA's Board of Directors ("Board") on May 15, 2003. NFA respectfully requests Commission review and approval of the proposed amendments.

Proposed Amendments to NFA Registration Rules 202, 203, 204, 801 and 802 and NFA Bylaw 301

Explanation of Proposed Amendments

NFA respectfully requests that the Commission review and approve the proposed amendments to NFA Registration Rules 202, 203, 204, 801 and 802 and NFA Bylaw 301(j). NFA also requests that the amendments be declared effective on the later of the date that the Commission approves the rules or July 21, 2003. If you have any questions or if we can provide any additional information, please communicate with Michael J. Crowley, Associate General Counsel. His email is mcrowley@nfa.futures.org and his telephone number is (312) 781-1388.

Respectfully submitted,
Thomas W. Sexton
Vice President and General Counsel

cc: Chairman James E. Newsome
Commissioner Barbara Pedersen Holum
Commissioner Sharon Brown-Hruska
Commissioner Walt Lukken
Jane Kang Thorpe, Esq.
Gregory Mocek, Esq.
Patrick J. McCarty, Esq.
David Van Wagner, Esq.
Riva Spear Adriance, Esq.