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Registration Rules

Part 200. Registration Requirements and Procedures


[Adopted effective April 4, 1988. Effective dates of amendments: January 1, 1990; September 21, 1993; May 31, 2002; December 17, 2007; September 30, 2010; July 18, 2012 and September 15, 2017.]

(a) Any individual who is required by these Rules to submit a fingerprint card is exempt from that requirement if NFA has received a report, record or notation from the Federal Bureau of Investigation within 90 days preceding the date the individual's Form 8-R is filed with NFA or if the individual has a Current Active Status on the date the Form 8-R is filed.

(b) Reserved.

(c) Any FCM, RFED, SD, MSP, IB, CTA, CPO, FTF or LTM, in lieu of submitting a fingerprint card for a principal who is a director but is not also an officer or employee of the firm ("outside director"), may file with NFA a Notice Pursuant to CFTC Regulation 3.21(c). A firm that has filed a Notice Pursuant to CFTC Regulation 3.21(c) with respect to an outside director described therein must file with NFA on behalf of such outside director a Form 8-R completed in accordance with all pertinent instructions and verified by the outside director. The exemption provided for by this paragraph is limited solely to the outside director's fingerprint requirement and does not affect any other duties or responsibilities of the firm or the outside directors under these Rules. In appropriate cases, NFA may require additional information from the firm with respect to any outside director referred to in the Notice Pursuant to CFTC Regulation 3.21(c).

(d) Any sponsor that is registered as a Broker/Dealer that files a Form 8-R on behalf of an AP applicant or a principal may, in lieu of submitting a fingerprint card for the applicant or principal, represent in the Form 8-R that, within the last 90 days, an application for registration as a General Securities Representative has been filed on behalf of the applicant with the Financial Industry Regulatory Authority and that a fingerprint card containing the applicant's or principal's fingerprints accompanied the application.

(e) Any FCM, RFED, SD, MSP, IB, CTA, CPO, FTF or LTM, in lieu of submitting a fingerprint card for a principal, an associated person or an FTOE who is a natural person who has not resided in the United States since reaching the age of 18 years (foreign natural person) or any FB or FT who is foreign natural person, may certify that:

    1) such certifying FCM, RFED, SD, MSP, IB, CTA, CPO, FTF, LTM, FB or FT has caused a criminal history background check of such foreign natural person to be performed; and
    (2) the criminal history background check:
      (A) was of a type that would reveal all matters listed under Sections 8a(2)(D) or 8a(3)(D), (E) or (H) of the Act relating to such foreign natural person;

      (B) Did not reveal any matters that constitute a disqualification under Sections 8a(2) or 8a(3) of the Act, other than those disclosed to NFA; and

        (C) was completed not more than one calendar year prior to the date of certification described in paragraphs (e)(1) and (2) of this Rule.