NFA Updates Regulatory Guide for Forex Transactions
The NFA issued an updated Regulatory Guide for Forex Transactions.
The updates include the incorporation of:
- Amendments to Bylaw 301, NFA Financial Requirements Sections 1, 13 and 14;
- NFA Compliance Rule 2-38 and Rule 2-48;
- Interpretive Notice: NFA Compliance Rule 2-10: "The Allocation of Bunched Retail Forex Orders for Multiple Accounts"; and
- Interpretive Notice: NFA Compliance Rule 2-4 and Rule 2-36: "Prohibition on the Use of Certain Electronic Funding Mechanisms."
See: NFA Regulatory Guide to Forex Transactions.Related news: NFA Announces Effective Date of Interpretive Notice to Compliance Rules 2-4 and 2-36 Relating to Paying for the Future on Credit (NFA Notice I-14-33) (December 1, 2014); NFA-Proposed Interpretive Notice Prohibiting the Use of Credit Cards to Fund Forex or Futures Accounts Published (Fed. Reg.) (July 7, 2014); NFA Board Approves Prohibition of Credit Cards to Fund Retail Forex Accounts (June 23, 2014); NFA Revises Interpretive Notices Regarding Compliance Rule 2-10 with Regard to the Allocation of Bunched Orders (March 24, 2014).