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NFA sets business goals for Fiscal Year 2003
Concurrent with developing a budget for Fiscal Year 2003, NFA has developed a set of business goals that will support NFA's strategic plan, build NFA awareness and recognition and position the organization for continued success in the future.
"Setting specific goals for the upcoming year allows us to examine all the ways NFA adds value to the industry we regulate and see where we can do even better," says Dan Roth, senior executive vice-president.
Several of this year's goals focus on NFA's commitment to provide innovative and cost-effective regulatory programs and services. For example, NFA will review its regulatory programs and procedures in light of changes affecting the financial services industry and modify them to enhance their effectiveness and efficiency. NFA will also design and implement effective Member outreach programs and expand Member communication initiatives. In addition, NFA will expand the automation of Member Services in the following systems: Online Registration and Online Dispute Resolution.
Another set of goals focuses on building NFA awareness and recognition. In the coming year, NFA will implement a new positioning/ communications strategy; continue developing strong relationships and strengthening communications with relevant Congressional Committees, the CFTC, the SEC and other relevant government regulatory bodies; and continue its efforts to be recognized by international regulators and marketplaces as an effective worldwide self-regulatory organization and provider of regulatory services.
NFA will also continue to capitalize on opportunities to provide regulatory services to electronic markets. During the past two years, NFA has signed agreements to outsource its services to BrokerTec, Merchants Exchange, OnExchange and Island Futures Exchange.
"The goal-setting process is imperative in light of the increasingly competitive nature of the financial services industry," says Roth. "We are confident that we are using our energy and resources in a way that will reap rewards for NFA and its Members."