The CFTC approved the NFA's Interpretive Notice to NFA Compliance Rules 2-9, 2-36 and 2-49 titled Information Systems Security Programs , requiring member firms to adopt and enforce written policies and procedures to secure customer data and access to their electronic systems. The NFA Interpretive Notice outlined those key areas that electronic Information Systems Security Programs ("ISSPs") must contain: a security and risk analysis; a description of the safeguards against identified system threats and vulnerabilities; the process used to evaluate the nature of a detected security event
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A futures commission merchant settled CFTC charges for failing to (i) implement an adequate AML program, (ii) impose risk-based trading position limits on a customer's accounts and (iii) maintain customer records for a substantial period of time.
NFA announced the effective date of rule amendments designed to clarify the applicability of certain NFA rules and interpretive notices to certain regulated entities.
The NFA adopted amendments to its Compliance Rules and Interpretive Notices to cover transactions and counterparties involving swaps.