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Proposed Rule

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Proposed Amendments to Registration Rules 401(h), 701(c)(6) and 802(a), (b) and (d) and Proposed Deletion of the Interpretive Notice Regarding Experience and Proficiency Requirements for Ethics Training Providers and the Interpretive Notice Regarding Authorized Ethics Training Providers
(additions are underscored and deletions are stricken through)

REGISTRATION RULES

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RULE 401. QUALIFICATION TESTING REQUIREMENT.

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(h) Willfully making any materially false or misleading statement or willfully omitting to state any material fact in any part of the application for registration, including information concerning the requirements of this Rule, is cause for denial, suspension, or revocation of registration and criminal prosecution.

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RULE 701. DISCLOSURE OF INFORMATION FROM REGISTRATION RECORDS MAINTAINED BY NFA.

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(c) Disclosure of Non-Public Information. Requests for access to registration records, or portions thereof, not subject to disclosure as public or publicly available under paragraph (b)(1) of this Rule shall be referred or transmitted to the Commission for response; except that, NFA will disclose such records or portion thereof:

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(6) otherwise with the authorization of the Director of the Division of Trading and Markets, the Director of the Division of Enforcement, the Director of the Division of Economic Analysis, the General Counsel or the Executive Director of the Commission, or in that person’s absence, the appropriate designated Commission staff member, in accordance with Commission Regulations Assistant Secretary of the Commission for FOI, Privacy and Sunshine Act Compliance or his or her designee, or the General Counsel of the Commission or his or her designee, in accordance with CFTC Regulations 145.7(b), (h) and (i); the Freedom of Information Act, 5 U.S.C. § 552; and the Privacy Act, 5 U.S.C. § 552a; and

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RULE 802. CERTIFICATIONS, ACKNOWLEDGEMENTS, AGREEMENTS AND REPRESENTATIONS.

The electronic filing of a Form 7-R for registration as an FCM, IB, CPO and CTA is deemed to constitute the applicant’s:

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authorization that NFA may conduct an investigation to determine the applicant’s fitness for registration and, if applicable, NFA membership and agreement to cooperate promptly and fully, consistent with applicable Federal law, in such investigation, which investigation may include contacting foreign regulatory and law enforcement authorities, including the submission of documents and information to NFA that NFA, in its discretion, may require in connection with the applicant’s application for registration or NFA membership;

(67) authorization and request that any person, including but not limited to contract markets or DTFs, furnish upon request to NFA or any agent acting on behalf of NFA any information requested by NFA in connection with any investigation conducted by NFA to determine the applicant’s fitness for registration or NFA membership; and

(8) agreement that any person furnishing information to NFA or any agent acting on behalf of NFA in connection with the investigation so authorized is released from any and all liability of whatever nature by reason of furnishing such information to NFA or any agent acting on behalf of NFA; and

(79) agreement that, if the applicant is a foreign applicant:

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The electronic filing of a Form 8-R for registration as an FB or FT is deemed to constitute the applicant’s:

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authorization that NFA may conduct an investigation to determine the applicant’s fitness for registration and agreement to cooperate promptly and fully, consistent with applicable Federal law, in such investigation, which investigation may include contacting foreign regulatory and law enforcement authorities, including the submission of documents and information to NFA that NFA, in its discretion, may require in connection with the applicant’s application for registration;

(67) authorization and request that any person, including but not limited to contract markets or DTFs, furnish upon request to NFA or any agent acting on behalf of NFA any information requested by NFA in connection with any investigation conducted by NFA to determine the applicant’s fitness for registration;

(78) agreement that any person furnishing information to NFA or any agent acting on behalf of NFA in connection with the investigation so authorized is released from any and all liability of whatever nature by reason of furnishing such information to NFA or any agent acting on behalf of NFA; and

(89) acknowledgement that the applicant is not registered and may not act as an FB or FT until a notice has been issued that registration or a temporary license has been granted

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The electronic verification by an individual of the information contained in the Form 8-R constitutes the applicant’s or principal’s:

(1) verification that the answers and statements in the application or Form 8-R are true, complete and accurate and that in light of the circumstances under which the applicant or principal has given them, the answers and statements in the Form 8-R are not misleading in any material respect;

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(8) authorization that NFA, and any contract market or DTF of which the applicant’s or principal’s sponsor or any current or future guarantor (under CFTC Rule 1.10(j)) of the applicant’s or principal’s sponsor is or may become a member, may conduct an investigation to determine the applicant’s or principal’s fitness for registration, and if applicable, for Associate status, and agreement to cooperate promptly and fully, consistent with applicable Federal law, in such investigation, which may include contacting foreign regulatory and law enforcement authorities, including the submission of documents and information to NFA that NFA, in its discretion, may require in connection with the applicant’s or principal’s fitness for registration or Associate status;

(89) authorization and request that any person, including but not limited to contract markets, furnish upon request to NFA or any agent acting on behalf of NFA any information requested by NFA in connection with any investigation conducted by NFA to determine the applicant’s fitness for registration or fitness of the principal;

(910) agreement that any person furnishing information to NFA or any agent acting on behalf of NFA in connection with the investigation so authorized is released from any and all liability of whatever nature by reason of furnishing such information to NFA or any agent acting on behalf of NFA; and

(1011) acknowledgement that the applicant is not registered and may not act as an AP until a notice has been issued that registration or a TL has been granted.

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