Skip Navigation LinksHome > NFA Manual / Rules > NFA Rule

NFA Manual / Rules

Welcome to the online version of NFA's rulebook, the NFA Manual. We update this version on an ongoing basis. If you want to check out what changes have most recently been made to the NFA Manual, go to Recent Manual Updates.

Registration Rules



RULE 601. WITHDRAWAL FROM REGISTRATION.
[Adopted effective April 4, 1988. Effective dates of amendments: June 8, 1988; September 29, 1989; September 21, 1993; May 31, 2002; September 30, 2010; and July 18, 2012.]

(a) An FCM, RFED, SD, MSP, IB, CTA, CPO, LTM, FB or FT may request that its registration be withdrawn in accordance with the requirements of this Rule if:

    (1) the registrant has ceased, or has not commenced, engaging in activities requiring registration in such capacity; or

    (2) the registrant is exempt from registration in such capacity; or

    (3) the registrant is excluded from the persons or any class of persons required to be registered in such capacity. Provided, that NFA may consider separately each capacity for which withdrawal is requested in acting upon such a request.

(b) An FCM, RFED, SD, MSP, IB, CPO, CTA or LTM requesting withdrawal from registration under this Rule must file a Form 7-W completed and filed with NFA in accordance with all pertinent instructions. A FB or FT requesting withdrawal from registration under this Rule must file a Form 8-W completed and filed with NFA in accordance with all pertinent instructions. In addition, any FB or FT requesting withdrawal from registration must file a copy of his Form 8-W with each contract market or DTF that has granted him trading privileges.

(c) A request for withdrawal from registration will become effective on the 30th day after receipt of such request by NFA, or earlier upon notice from NFA of the granting of such request, unless prior to the effective date:

    (1) the Commission or NFA has instituted a proceeding to suspend or revoke such registration;

    (2) the Commission or NFA imposes or gives notice that it intends to impose terms or conditions upon such withdrawal from registration;

    (3) the registrant is given notice that it is currently the subject of an investigation to determine, among other things, whether such registrant has violated, is violating, or is about to violate the Act, rules, regulations, or orders adopted thereunder;

    (4) NFA requests from the registrant further information pertaining to its request for withdrawal from registration; or

    (5) NFA determines that it would be contrary to the requirements of the Act or of any rule, regulation or order thereunder, or to the public interest to permit such withdrawal from registration.

(d) Withdrawal from registration in one capacity does not constitute withdrawal from registration in any other capacity.

(e) Withdrawal from registration does not constitute a release from liability for any violation of the Act or of any rule, regulation or order thereunder, which occurred while a person was registered.

 
NFA is the premier independent provider of efficient and innovative regulatory programs that safeguard the integrity of the derivatives markets.