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NFA Regulations

Felix Shipkevich February 1, 2013

The National Futures Association (NFA) announced its intention to implement 21 changes and recommendations to how it manages futures industry firms. The news comes after the Berkeley Research Group (BRG), as part of its independent analysis of NFA’s audits of the Peregrine Financial Group, uncovered countless auditing oversights in the wake of the $200 million […]

Felix Shipkevich October 19, 2011

The NFA’s Business Conduct Committee has issued a complaint against Commodity Trading Advisor (“CTA”) Golden Forex. According to the NFA, Golden Forex submitted misleading information to the Association about its listed Associated Person (“AP”), Kathie Bui. Golden Forex is a California based CTA, and a member of the NFA since May 2009. The company is […]

Felix Shipkevich June 22, 2011

The NFA announced today that is has taken emergency enforcement action against D2W Capital Management LLC (D2W), Prestige Capital Advisors LLC (Prestige), as well as their principal, Toby Hunter. The North Carolina-based CTAs and Hunter allegedly mislead customers, used similarly false and  misleading information to solicit new customers, and did not provide customers with NFA […]

Felix Shipkevich June 21, 2011

The NFA issued a notice today reminding member Commodity Pool Operators, or CPOs, that they are still responsible for paying NFA assessment fees. In the course of routine examinations, NFA staff found that exchange-member CPOs were failing to properly remit these fees. Though initially only for non-exchange members, in August 2004, the NFA board adopted […]

Felix Shipkevich May 18, 2011

The CFTC published a final rule on compliance relief from certain recordkeeping and reporting requirements for specific types of commodity pool operators (CPOs). Similar exemptions were previously made on a case-by-case basis by the CFTC. The new rule exempts CPOs that are listed and traded on national securities exchanges (i.e. Commodity Exchange Traded Funds or […]