July 18, 2013

NFA Issues Registration Rule Updates

NFA has updated several Registration Rules. The following rules have been modified:

Rule 201 ("Registration Requirements and Procedures"): NFA shall perform registration functions in accordance with the provisions set forth in the Rules for all persons, except those who have been granted registration responsibilities pursuant to Section 8a(10) ("Registration of commodity dealers and associated persons; regulation of registered entities") or Section 17(o) ("Registered futures associations") of the CEA.
Rule 203 ("Registration Fees"): Certain fees apply and must be remitted by check, bank draft or money order payable to NFA. Registration Fees are non-refundable.
Rule 501 ("Authority to Deny, Condition, Suspend, and Revoke Registration"): NFA may refuse to register or register conditionally any person registered or applying for registration, or suspend or revoke the registration of any registrant in certain categories, based upon the standards of fitness set forth in the Act. Interim Orders and Final Orders, denying, revoking, conditioning, or suspending registration shall be made by the Membership Committee or a designated Subcommittee in accordance with the procedures set forth in these rules. At least one of the members on each designated Subcommittee shall not be an NFA Member, an Associate, or an employee of an NFA member.

Tags