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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.

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 Branch Manager Examination," with the exception of Associates who are no longer acting as a branch manager, unless after acting as a branch manager the Associate was not registered in any capacity for a period of more than two years; or Is sponsored by a registered broker-dealer and is qualified to