The National Futures Association (NFA) has amended NFA Financial Requirements (FR) Sections 11(b), 14(c) and 14(d), effective February 1. Under FR Section 11, a Forex Dealer Member is prohibited from including assets held at an “unregulated person” in its determination of current assets for purposes of calculating its adjusted net capital. The amendments will revise the list of persons that are “unregulated” by (1) deleting “a financial institution regulated by a U.S. banking regulator” and “an insurance company regulated by any U.S. state”; (2) adding “a bank or trust company regulated by a U.S. banking regulator”; and (3) adding foreign banks and trust companies “regulated in a money center country” that maintain regulatory capital of more than $1 billion. NFA may still, on a case-by-case basis, approve the use of certain foreign equivalent entities that are appropriately regulated and capitalized.