NFA Adopts Clarifying Changes to Rules and Interpretive Notices
The National Futures Association (NFA) has filed amendments to its rules and interpretive notices. The purpose of the amendments are primarily (1) to clarify the applicability of various requirements to futures commission merchants, introducing brokers, commodity pool operators and commodity trading advisors (and, in some instances, forex dealers), (2) to expand the scope of certain rules to include all commodity interest activities (not just futures-related activities), (3) to better reflect current technology and business practices, and (4) to implement consistent requirements for the use of hypothetical performance in promotional materials directed exclusively to qualified eligible persons.
Absent additional review by the Commodity Futures Trading Commission, the NFA may establish an effective date for the amendments as early as 10 days after receipt of the submission by the CFTC.
The amendments submission is available here.