NFA Proposes Amendments to Branch Office Manager Examination Requirement

NFA filed with the CFTC proposed amendments to NFA Compliance Rule 2-7 ("Branch Office Managers and Designated Security Futures Principals"). The amendments would eliminate the branch office manager examination requirement for associated persons who have satisfied NFA's swap proficiency requirements and would allow them to supervise the branch office of an NFA member that engages only in swap activities.

Barring a CFTC additional review determination, the proposed amendments will go into effect 10 days following the CFTC's receipt of the submission.