NFA Announces Effective Date of Interpretive Notice to Compliance Rules 2-4 and 2-36 Relating to Paying for the Future on Credit (NFA Notice I-14-33)

The NFA issued a Notice to Members announcing that the NFA Interpretive Notice titled "NFA Compliance Rules 2-4 and 2-36: Prohibition on the Use of Certain Electronic Funding Mechanisms" was recently approved by the CFTC and will become effective on January 31, 2015.

The Interpretive Notice prohibits NFA Members from permitting customers to fund their futures or forex accounts with a credit card or other electronic methods tied to a credit card, or a payment facilitator such as PayPal.

See: NFA Notice I-14-33.Related news: NFA-Proposed Interpretive Notice Prohibiting the Use of Credit Cards to Fund Forex or Futures Accounts Published (Fed. Reg.) (July 7, 2014); NFA Board Approves Prohibition of Credit Cards to Fund Retail Forex Accounts (June 23, 2014).