Notices to Members

June 27, 2024

Effective date for amendments to NFA's disciplinary process procedures

NFA amended Part 3 of NFA's Compliance Rules to better reflect NFA's current disciplinary practices and procedures. In particular, NFA amended NFA Compliance Rule 3-11 to specify that the Business Conduct Committee will consider settlement offers up until the time an Answer is filed and that the designated Hearing Panel will consider settlement offers after the Answer is filed. The amendments will be effective July 1, 2024.

NFA's May 20, 2024 rule submission letter to the CFTC contains more detailed information regarding the amendments, which were unanimously approved by NFA's Board.

If you have any questions regarding the amendments, please contact Elizabeth Sheridan, Associate General Counsel (esheridan@nfa.futures.org or 312-781-1479).