National Futures Association

Overview

The National Futures Association ("NFA") is a registered futures association and a self-regulatory organization. Certain CFTC registrants that deal with investors (e.g., FCMs, IBs, CTAs, CPOs, RFDs, and swap dealers) must become NFA members (see the topic page NFA By-Law 1101), comply with its rules, and be subject to its supervision and oversight. This page provides comprehensive information as to (i) the requirements under the Commodity Exchange Act that are applicable to the NFA as an entity itself regulated by the CFTC, and (ii) the requirement that is applicable to certain CFTC registrants.

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CEA and CFTC Rules

CFTC Rules Applicable to SROs Generally

  • CFTC Rule 1.3 (Definitions of "designated self-regulatory organization" (DSRO) and "self-regulatory organization" (SRO))
  • CFTC Rule 1.52 (Adoption and surveillance of financial requirements; national securities exchanges)
  • CFTC Rule 1.59 (Activities of employees, agents, board members) 
  • CFTC Rule 1.63 (Service on SRO board or committee by persons with disciplinary history)
  • CFTC Rule 1.64 (Composition of boards and committees)
  • CFTC Rule 1.69 (Voting by interested members of boards and committees)
  • CFTC Rule 3.2 (Registration processing by NFA; notification and duration of registration)