CTA Sales Practices and Promotional Material

NFA Compliance Rule 2-29 and Compliance Rule 2-36 address promotional material and Member communication with the public. These rules cover the following:

  • General Prohibition;
  • Content of Promotional Material;
  • Hypothetical Results;
  • Statements of Opinion;
  • Supervisory Requirements;
  • Recordkeeping;
  • Filing with NFA;
  • Radio and Television Advertisements;
  • Definitions; and
  • Security Futures Products.

Pre-Approval Submissions

NFA Compliance Rule 2-29 requires Members to submit to NFA for pre-approval certain types of promotional material designed to reach a public audience through mass media. This material must be submitted 10 days prior to first use.

Promotional materials requiring NFA pre-approval include:

  • radio and television advertisements;
  • audio or video advertisements; and
  • promotional material relating to Security Futures Products.

NFA will perform reviews of such submissions within 10 days of receipt.

Voluntary Pre-Review Program

NFA assists Members in achieving their regulatory requirements with NFA Compliance Rule 2-29 by offering a Pre-Review Program. This voluntary program is available free of charge to Members whose promotional material has not yet been used. NFA will perform a review of the promotional material within 14 days of receipt and will discuss any comments about the submission with the Member.

Submitting Promotional Material to NFA

All promotional material should be sent to NFA as follows:

By mail:

National Futures Association
Advertising Regulatory Team
300 South Riverside Plaza, Suite 1800
Chicago, Illinois 60606

By email:

Emailed promotional material should be sent to art@nfa.futures.org with the subject line Promotional Material Submission.

Promotional material submissions must be made by a principal or designated supervisory employee who is responsible for the review and approval of promotional material. If the firm wishes to have an alternative person other than the filer receive review feedback, this should be indicated at the time of the submission.

For more information, please refer to: A Guide to NFA Compliance Rules 2-29 and 2-36: Communications with the Public and Promotional Material.