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Compliance Rules

Part 2 - Rules Governing the Business Conduct of Members Registered with the Commission


[Effective date of amendments: March 21, 1983 and July 24, 2000.]

No Member or Associate shall:

    (a) Cheat, defraud or deceive, or attempt to cheat, defraud or deceive, any commodity futures customer;

    (b) Bucket a customer's commodity futures order or engage in a business that is of the nature of a bucket shop;

    (c) Willfully make or cause to be made to a customer a false report, or willfully to enter or cause to be entered for a customer a false record, in or in connection with any commodity futures contract;

    (d) Disseminate, or cause to be disseminated, false or misleading information, or a knowingly inaccurate report, that affects or tends to affect the price of any commodity that is the subject of a commodity futures contract;

    (e) Engage in manipulative acts or practices regarding the price of a commodity futures contract;

    (f) Willfully submit materially false or misleading information to NFA or its agents;

    (g) Effect a commodity trade on a contract market for a person who is subject to a Commission prohibition from trading on any contract market, unless the Member or Associate did not know or have reason to know of the prohibition; or

    (h) Embezzle, steal, purloin or knowingly convert any money, securities or other property received from or accruing to a customer, client or pool participant in or in connection with commodity futures contracts.

    (i) Act in any capacity requiring registration under the Act unless the Member or Associate is either registered in that capacity or exempt from registration.