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Amendments to Compliance Rule 2-46. CPO and CTA Reporting Requirements
June 30, 2017— Amendments to Compliance Rule 2-46. and new NFA Interpretive Notice NFA Compliance Rule 2-46: Reporting Financial Information on NFA Forms PQR and PR. An explanation of the amendments and Interpretive Notice can be found in the September 6, 2016 rule submission letter.
Part 3 - Compliance Procedures
RULE 3-4. NOTICE OF CHARGES.
[Adopted effective March 15, 1994, amendments effective September 17, 1999.]
(a) A Complaint issued by the Business Conduct Committee under these Rules must:
(i) state each NFA requirement alleged to be, to have been or about to be violated; and
(ii) state each act or omission that constitutes, constituted or will constitute the alleged violation.
(b) NFA shall advise the Respondent in writing:
(i) that the Respondent must file a written Answer to the Complaint with NFA, within 30 calendar days of the date of the Complaint;
(ii) that failure to file an Answer as provided in Part (i) above shall be deemed an admission of the facts and legal conclusions contained in the Complaint;
(iii) that failure to respond to any allegation shall be deemed an admission of that allegation; and
(iv) that failure to file an Answer as provided in Part (i) above shall be deemed a waiver of hearing.