NFA Amends Rules on Proficiency Requirements for Security Futures Products

The NFA proposed amending NFA Compliance Rule 2-7 ("Branch Office Managers and Designated Security Futures Principals"), Rule 2-24 ("Qualification Testing of Associated Persons") and Registration Rule 401 ("Qualification Testing Requirement"). The amendments make permanent, provisions that allow Security Futures Products associates to satisfy their proficiency requirements through training. The proposals will be effective ten days after the date of submission to the CFTC.