NFA Highlights Accomplishments in 2018 Annual Review

In an Annual Review, the National Futures Association ("NFA") provided 2018 financials, summarized its enforcement activity, and highlighted certain regulatory initiatives.

The self-regulatory organization reported that in fiscal year 2018, the Business Conduct Committee issued 17 Complaints against 27 respondents (including failures to supervise, cooperate or maintain standards); disciplinary panels issued 16 Decisions and ordered six expulsions and five suspensions; and the NFA collected nearly $550,000 in fines.

The NFA also detailed enhancements to risk-based exams for swap dealers, as well as swaps proficiency training requirements that are due to go into effect in 2020. The NFA noted progress toward improving the swap dealer risk-profiling system tailored to the regulatory concerns of individual swap dealers.