Notices to Members

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Notice I-14-04

January 27, 2014

CFTC Requests NFA Members to Provide NFA with Certain Information on Suspicious Activity Report Filings Upon NFA's Request

The Bank Secrecy Act and the implementing regulations issued by the Financial Crimes Enforcement Network (FinCEN) prohibit FCMs and IBs from disclosing that a Suspicious Activity Report (SAR) was filed, or any information that would reveal the existence of a SAR to the person involved in the transaction, as well as any other person except as specifically authorized by FinCEN Regulation (31 CFR 1026.320). This Regulation provides that FCMs and IBs are permitted to make SARs and related SAR information available to NFA only upon the request of the Commodity Futures Trading Commission (Commission). On January 8, 2014, the Commission provided NFA with a letter that formally requests all FCMs and IBs to make the following available to NFA, if requested by NFA:

The Commission specified that NFA may make these requests in relation to any examination or investigation, and for risk assessment purposes.

The Commission's letter also specifies that although CPOs and CTAs are not required to file SARs, for any SARs voluntarily filed, the CPO and/or CTA must make the above noted information available to the Commission upon its request.

If you have any questions on this requirement, please contact Sarah Walsh, Senior Manager, Compliance ( or 312-781-1202) or Elizabeth Sheridan, Senior Attorney ( or 312-781-1479).

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