October 21, 2014

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October 20, 2014

National Futures Association (NFA) Launches FCM Financial Information Platform

The National Futures Association (NFA) has launched a new service that allows the public to obtain relevant information about any member futures commission merchant (FCM) more easily. NFA’s Background Affiliation Status Information Center (BASIC), accessible from NFA's website, has been enhanced to provide a more user-friendly platform to access general information, disciplinary information and publicly available financial information about FCMs. In particular, BASIC now provides monthly financial reports that show each FCM's net capital, the amount of funds held in the customer segregated and foreign secured amount accounts, and the manner in which such funds are held,e.g., cash, US Treasury securities and money markets funds. September 2012 is the first month for which these financial reports are available.

More information on how the new monthly financial reports can be found here.

General information on the new services can be found here.

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About this Author

Kevin M. Foley, Finance Attorney, Katten Muchin law Firm
Partner

Kevin M. Foley has extensive experience in commodities law and advises a wide range of clients, both in the United States and abroad, on compliance with the Commodity Exchange Act and the rules of the Commodity Futures Trading Commission (CFTC) affecting traditional exchange-traded products, as well as the over-the-counter markets involving swaps and other derivative instruments. His clients include futures commission merchants, derivatives clearing organizations, designated contract markets, foreign boards of trade and an industry trade association.

312-902-5372
Adam J. Spector, Katten Muchin Law firm, Financial Institutions Attorney
Associate

Adam J. Spector concentrates his practice in the financial services sector, representing hedge funds, commodity pools, proprietary trading firms, private equity funds and investment advisers with respect to their corporate, transactional and regulatory matters.

312-902-5275