The Commodity and Futures Trading Commission (CFTC) recently approved certain amendments to Interpretive Notice 9031 (“Standard List of Documents to be Exchanged Under Section 8 of NFA’s Code of Arbitration”). This section involves a party’s obligations to automatically exchange specified documents in connection with an NFA arbitration proceeding. These amendments will be effective for claims filed after April 15, 2011.
Section 8(a) of NFA’s Code of Arbitration requires that, as part of the discovery process, all parties in an NFA arbitration proceeding automatically exchange certain routine documents relevant for the cause of action alleged in a particular case. These documents are set forth in the Interpretive Notice. Though many of the documents identified in the Notice are relevant regardless of whether the dispute involves commodity futures or forex transactions, NFA’s Board recently identified a few additional documents that may be routinely relevant in a dispute that involves forex transactions.