NFA notified members that it would not pursue disciplinary actions if a firm allows associated persons to temporarily work from home under business contingency plans, provided that the firm institutes adequate supervisory methods and meets its recordkeeping requirements.
The NFA barred an introducing broker from membership permanently for failing to (i) maintain required minimum adjusted net capital, (ii) keep current and accurate books and records, and (iii) supervise its employees adequately.
The NFA has released a compliance rule update for Rule 2-7 ("Branch Office Managers and Designated Security Futures Principals"). Rule 2-7 places limitations on who is permitted to be a branch office manager. In order to be a branch office manager, an Associate must: Have taken and passed the "NFA...
Request delivery of the Cadwalader Cabinet Newsletter.