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November 16, 2010
NFA Announces Launch of New Web-based Anti-Money Laundering Procedures System
NFA has launched a web-based Anti-Money Laundering (AML) Procedures System to assist NFA Member FCMs and IBs and applicants in developing an AML program that meets the requirements of the Bank Secrecy Act and NFA Compliance Rule 2-9(c). The system is designed to assist firms in developing an adequate written compliance program by identifying the minimum components of the program and providing guidance and information on the components, along with examples of suggested language.
FCMs and IBs are not required to use this system to develop their AML program. In fact, FCMs and IBs should be aware that this system is intended to provide an outline for the program and that you may need to make modifications to ensure that the final program addresses the money laundering risks associated with the Member's business. Using the system does not guarantee that your program will satisfy the AML program requirements, nor does it provide a safe harbor from violations of the program requirements.
The AML Procedures System can be accessed via NFA's website at http://www.nfa.futures.org/NFA-electronic-filings/aml-procedures.HTML, employing the same user name and password that would be used to access NFA's Online Registration System.
Questions concerning NFA's AML Procedures System should be directed to Christopher Michaelson, Risk Management Supervisor, Compliance (email@example.com or 312-781-1351) or Valerie Kretschmer, Manager, Compliance (firstname.lastname@example.org or 312-781-1290).