NFA: Forex Dealer Member Update & CPO & CTA Affirmation Req. Exemptions
NFA Proposes Reduction in Forex Dealer Member Assessment on Order Segments
On November 29, the National Futures Association (NFA) proposed an amendment to NFA Bylaw 1301(e) to reduce assessments for each order segment fee a Forex Dealer Member (FDM) submits to NFA’s Forex Transaction Reporting Execution Surveillance System (FORTRESS). Currently, each FDM is required to pay an assessment of $.004 on each order segment submitted to FORTRESS. NFA has proposed lowering the assessment to $.003, and such proposal may become effective as early as 10 days after receipt of the submission by the Commodity Futures Trading Commission (CFTC).
The NFA rule submission is available here.
NFA Issues Notice to Members on Annual Affirmation Requirement for CPO and CTA Exemptions
On December 2, the National Futures Association (NFA) issued Notice I-19-29 reminding NFA members that any person claiming an exemption from commodity pool operator (CPO) registration under CFTC Regulation 4.13(a)(1), 4.13(a)(2), 4.13(a)(3), 4.13(a)(5), an exclusion from CPO registration under CFTC Regulation 4.5 or an exemption from commodity trading advisors (CTA) registration under 4.14(a)(8) must annually affirm the applicable notice of exemption within 60 days of the calendar year end, which is February 29, 2020 for this affirmation cycle. Failure to affirm will result in the exemption being withdrawn on March 1, 2020. The affirmation process can be completed through NFA’s online Exemption System.
The notice and more information on how to complete the affirmation process is available here.