CFTC Rule Submissions

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December 05, 2007

Via Federal Express

Mr. David Stawick
Office of the Secretariat
Commodity Futures Trading Commission
Three Lafayette Centre
1155 21st Street, N.W.
Washington, DC 20581

Re: National Futures Association: Technical Changes to Reflect NASD Name Change - Proposed Amendments to Compliance Rules 2-7 and 2-30, Financial Requirements Sections 11 and 14, Registration Rules 209 and 401 and the Interpretive Notices entitled "NFA Compliance Rule 2-4: Confidentiality Language in Release Agreements," "Compliance Rule 2-9: Enhanced Supervisory Requirements," "Compliance Rule 2-9: Special Supervisory Requirements for Members Registered as Broker-Dealers Under Section 15(b)(11) of the Securities Exchange Act of 1934," "NFA Compliance Rule 2-37: Fair Commissions," "NFA Compliance Rules 2-7 and 2-24 and Registration Rule 401: Proficiency Requirements for Security Futures Products," "NFA Compliance Rule 2-30(b): Risk Disclosure Statement for Security Futures Contracts," and "Forex Transactions."*

Dear Mr. Stawick:

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 Compliance Rules 2-7 and 2-30, Financial Requirements Sections 11 and 14, Registration Rules 209 and 401 and Interpretive Notices entitled "NFA Compliance Rule 2-4: Confidentiality Language in Release Agreements," "Compliance Rule 2-9: Enhanced Supervisory Requirements," "Compliance Rule 2-9: Special Supervisory Requirements for Members Registered as Broker-Dealers Under Section 15(b)(11) of the Securities Exchange Act of 1934," "NFA Compliance Rule 2-37: Fair Commissions," "NFA Compliance Rules 2-7 and 2-24 and Registration Rule 401: Proficiency Requirements for Security Futures Products," "NFA Compliance Rule 2-30(b): Risk Disclosure Statement for Security Futures Contracts," and "Forex Transactions." This proposal was approved by NFA's Board of Directors ("Board") on November 15, 2007.

PROPOSED RULE AMENDMENTS

EXPLANATION OF PROPOSALS

NFA is invoking the "ten-day" provision of Section 17(j) of the Commodity Exchange Act ("CEA") and will make most of these changes effective ten days after receipt of this submission by the Commission unless the Commission notifies NFA that the Commission has determined to review the proposals for approval. The changes to Financial Requirements Section 11 and the related sections of the Interpretive Notice entitled "Forex Transactions" will not become effective until December 21, 2007, however, when the requirements in which they are imbedded become effective.

Respectfully submitted,

Thomas W. Sexton
Vice President and General Counsel


* The proposed amendments to the Compliance Rules 2-7 and 2-30, Financial Requirements Sections 11 and 14, Registration Rules 209 and 401 and the Interpretive Notices entitled "NFA Compliance Rule 2-4: Confidentiality Language in Release Agreements," "Compliance Rule 2-9: Enhanced Supervisory Requirements," "Compliance Rule 2-9: Special Supervisory Requirements for Members Registered as Broker-Dealers Under Section 15(b)(11) of the Securities Exchange Act of 1934," "NFA Compliance Rule 2-37: Fair Commissions," "NFA Compliance Rules 2-7 and 2-24 and Registration Rule 401: Proficiency Requirements for Security Futures Products," "NFA Compliance Rule 2-30(b): Risk Disclosure Statement for Security Futures Contracts," and "Forex Transactions" became effective December 17, 2007.

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