Board ReportThe following actions were taken by NFA's Board of Directors at its meeting on May 16, 2002
- The Board approved the proposed budget for fiscal year 2003.
- The Board approved a reduction in the assessment fee from $.10 to $.08 for round-turn futures contracts and from $.05 to $.04 for each options contract. The new fee structure becomes effective on July 1, 2002.
- The Board was notified by the New York Board of Trade that Joseph J. O'Neill will replace Mark D. Fichtel on the Board of Directors. The Board was also notified by the Chicago Mercantile Exchange that Jack Sandner will replace Scott Gordon.
- The Board approved amendments to NFA's Registration Rules to implement the Online Registration System.
- The Board approved changes to NFA's Proposed Interpretive Notice Regarding Supervision of the Use of Automated Order-Routing Systems.
- The Board approved amendments to NFA Compliance Rule 2-9 and the adoption of an Interpretive Notice Regarding FCM and IB Anti-Money Laundering Programs.
NFA is the premier independent provider of efficient and innovative regulatory programs that safeguard the integrity of the futures markets.