NFA Proposes Amendments to AML Interpretive Notice

NFA proposed an amendment to an interpretive notice on NFA Rule 2-9 ("Supervision") concerning AML compliance procedures for certain CFTC-registered futures commission merchants and introducing brokers. The proposed amendment would incorporate guidance issued in CFTC Letter 19-18, "Interpretive Guidance Regarding Voice Broker Customer Identification Program and Beneficial Ownership Rule Requirements," which clarifies the obligations of certain introducing brokers under a written Customer Identification Program ("CIP") and Beneficial Ownership ("BO") regulations issued under the Bank Secrecy Act. Specifically, the guidance clarifies the applicability of CIP and BO requirements to voice brokers.

Barring further review by the CFTC, the proposed amendment will go into effect 10 days after it is received by the CFTC.