X

NFA Amends Regulation regarding Default Withdrawal of Membership

The National Futures Association ("NFA") amended its Bylaw 1303 governing a Member's failure to timely pay certain fees, which is regarded as a default and deemed a request to withdraw from NFA membership.

Effective on October 31, 2018, NFA Bylaw 1301 will (i) include fees for filing late reports under certain regulations and (ii) make the time period when the default and deemed request to withdraw occurs consistent for all late payments.

Primary Sources

  1. NFA Financial Requirements: Section 13 - Forex Dealer Member Reports
  2. NFA Financial Requirements: Section 10 - Late Financial Reports
  3. NFA Notice I-18-21: Effective Date of Amendments to NFA Bylaw 1303 - Default And Deemed Request to Withdraw Membership
  4. NFA Amendments to Bylaw 1303

Tags

Body of Law
CEA Regulation
Jurisdiction
US - Federal
Organization
CFTC, NFA, CFTC Markets
Sub-Author
NFA