NFA Implements Additional Reporting Requirements for Certain FCMs

On January 6, National Futures Association (NFA) issued a notice to members implementing new daily, monthly and quarterly reporting requirements for futures commission merchants (FCMs) for which NFA is the designated self-regulatory organization. Pursuant to the new reporting requirements, FCMs must report certain information related to margin deficiencies, customer and non-customer accounts, counterparties, fees, funding, lines of credit, customer trading activity, outside business activities, new products or services, lawsuits, disciplinary actions, highest-performing associated persons and stress tests. The first daily, monthly and quarterly reports are due January 14, February 3 and April 1, respectively. 

More information is available here.

Topics:  FCMs, NFA, Reporting Requirements, Self-Regulatory Organizations

Published In: Finance & Banking Updates, Securities Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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