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June 21, 2016
Effective date of amendment to Compliance Rule 2-46: Late fee for NFA Forms PQR and PR filings
NFA recently amended NFA Compliance Rule 2-46 to impose a $200 late fee on commodity pool operator (CPO) and commodity trading advisor (CTA) Members for each business day the Member files its quarterly NFA Form PQR or PR after the due date.
The late fee is effective for all NFA Forms PQR and PR required under NFA Compliance Rule 2-46 beginning with reports dated September 30, 2016 and later. For Form PQR, the late fee will apply to the CPO entity and will not be assessed on each pool operated by the CPO that has a late filing. NFA is imposing this late fee to encourage the limited number of CPOs and CTAs that file late reports to make timely filings. A late fee for these reports is consistent with NFA's practice of imposing a fee on late financial filings made by futures commission merchant, forex dealer member and introducing broker Members.
More information on this amendment can be found in NFA's May 31, 2016 Submission Letter to the CFTC. For more information on filing NFA Forms PQR and PR, please see Notice I-15-25. If you have questions concerning this new requirement, please contact NFA's Information Center by calling 800-621-3570 or 312-781-1410, or emailing firstname.lastname@example.org.