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April 05, 2018
Regulatory requirements reminder for CPO, CTA, FCM, FDM and IB Members
NFA is committed to providing its Members with the resources they need to meet their regulatory obligations as efficiently as possible. This Notice to Members serves as a reminder that Members can access information on certain annual and ongoing requirements from the Members section of NFA's website.
Click the links below to visit the Member landing page for a firm's membership category. From this page, Members can access the latest news, applicable Notices to Members, regulatory obligations, filing requirements, educational material and resources, and more. The requirements listed on the regulatory obligation webpages found at the bottom of each Member landing page include requirements your firm should complete on an annual basis. While these requirements do not capture all Member responsibilities for the upcoming year, these should serve as a reminder of certain non-routine requirements.
- Commodity pool operator
- Commodity trading advisor
- Futures commission merchant
- Forex dealer member
- Introducing broker
On a yearly basis, each NFA Member must complete the annual update process on the anniversary of its membership date. This process includes completing the Annual Questionnaire, as well as paying membership dues. If this update process is not completed within 30 days of a Member's annual update due date, NFA will treat this as a request to withdraw the firm from NFA membership and/or CFTC registration.
Additionally, NFA Members must annually review their operations using NFA's Self-Examination Questionnaire. The questionnaire is designed to aid Members in recognizing potential problem areas and to alert them to procedures that need to be revised or strengthened.
On an ongoing basis, NFA Members are also required to update the Annual Questionnaire in the event of a material change as NFA's BASIC system displays information reflecting whether or not firms are actively engaged in futures-related business activities or retail off-exchange foreign currency activities. For example, if a firm was not doing business and begins doing business, the Annual Questionnaire should be updated immediately.
NFA Members are also required to keep information on the Form 7-R up-to-date on an ongoing basis. The Form 7-R includes, among other information, the firm's address, contact information and listed principals and can be accessed in NFA's Online Registration System (ORS).
If you need assistance with any NFA requirements, please contact NFA's Information Center (312-781-1410 or 800-621-3570 or email@example.com).