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: Submission of Risk Disclosure Statement for Security Futures Contracts and Resubmission of Proposed Adoption of a Related Interpretive Notice

Dear Ms. Webb:

By letter dated August 15, 2002, National Futures Association ("NFA") submitted to the Commodity Futures Trading Commission ("Commission" or "CFTC"), among other things, the proposed adoption of an Interpretive Notice to NFA Compliance Rule 2-30(b): Disclosure Statement for Security Futures Products. NFA subsequently informed Commission staff that it was withdrawing that part of the submission and would resubmit it when the risk disclosure statement was finalized.

Pursuant to Section 17(j) of the Commodity Exchange Act, as amended ("the Act"), NFA hereby resubmits to the CFTC the proposed adoption of an Interpretive Notice to NFA Compliance Rule 2-30(b): Risk Disclosure Statement for Security Futures Contracts. A similar version of the proposed interpretive notice was approved by NFA's Board of Directors ("Board") at its November 15, 2001 meeting. At that meeting, the Board authorized NFA's Executive Committee to make additional changes that may be requested by the CFTC or the Securities and Exchange Commission ("SEC"). The final version of the interpretive notice, as reflected in this submission, was approved by the Executive Committee on August 13, 2002 and ratified by NFA's Board at its August 15, 2002 meeting. NFA is also submitting the Risk Disclosure Statement for Security Futures Contracts, which was approved for use at these same meetings.

NFA is invoking the "ten-day" provision of Section 17(j) of the Act. Unless the CFTC decides to review the rule submission for approval, NFA intends to make it effective upon the date that the NASD's related rule submission to the SEC becomes effective.

Proposed Interpretive Notice and Risk Disclosure Statement

Explanation of Proposed Interpretive Notices

As mentioned earlier, NFA is invoking the "ten-day" provision of Section 17(j) of the Act. Unless the CFTC decides to review the rule submission for approval, NFA intends to make it effective upon the date that NASD's related rule submission to the SEC becomes effective.

Sincerely,

Thomas W. Sexton
Vice President and General Counsel

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