If my firm is not based in the United States, what requirements does it have?
Foreign entities that transact business with U.S. customers in the capacity of an FCM, IB, CTA or CPO are generally required to register in the appropriate category. Foreign entities must meet the same filing requirements as domestic applicants. In addition each foreign entity that files an electronic Form 7-R agrees to make its books and records available for inspection by NFA and the CFTC.
Foreign entities that transact business directly with U.S. customers solely in futures contracts and commodity options traded on foreign exchanges are exempt from registration if:
(a) it is an FCM subject to a comparable regulatory structure by a foreign regulator which has been granted an exemption by the CFTC or an IB, CPO, or CTA without a U.S. office; and
(b) it has filed a request for exemptive relief and an agreement with NFA appointing an authorized U.S. agent for service of process for communications in connection with activities that would otherwise require registration. IBs, CPOs and CTAs request exemption relief by filing a Form 7-R.
If you have any other questions, contact NFA's Information Center at (800) 621-3570 or (312) 781-1410 or e-mail NFA.
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