NFA instructed futures commission merchants and introducing brokers to revise their AML programs to reflect the updated Financial Action Task Force list of jurisdictions with strategic AML and Combating the Financing of Terrorism deficiencies.
News & Insights
A CFTC-registered introducing broker settled NFA charges for failing to maintain complete records and allowing an unregistered individual to operate as an associated person.
NFA extended COVID-19-related relief with respect to (i) the oral communications recordkeeping requirements applicable to introducing brokers, and (ii) the time-stamping requirements for both IBs and futures commission merchants.
NFA reminded futures commission merchants and retail foreign exchange dealers that the upcoming holidays will impact the regulatory filing schedules for certain daily financial reports.
NFA proposed an amendment to an interpretive notice on AML compliance procedures to clarify the obligations of certain introducing brokers under a written Customer Identification Program and Beneficial Ownership regulations.