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Compliance Rules

Part 3 - Compliance Procedures


[Adopted effective December 10, 1993. Effective dates of amendments: January 1, 2005; February 20, 2014 and July 1, 2024]

The Business Conduct Committee, Hearing Committee, Appeals Committee, Executive Committee and Hearing Panel conducting a proceeding under these Part 3 rules shall include at least one member who is not an NFA Member or Associate or an employee of an NFA Member. If the proceeding involves a Respondent that is an SD or MSP Member, at least one member of the Hearing Panel shall also be affiliated with an SD or MSP. When selecting Hearing Panels, the Chair of the Hearing Committee or their designee shall endeavor to appoint panelists with diverse interests.