National Futures Association – Third Quarter 2020

U.S. National Futures Association Update

The Compliance and Regulatory Consulting practice highlights regulatory information relating to the NFA from the third quarter of 2020.

CFTC Encourages Standardized Approaches to Assessing Cyber Security Preparedness, Including the FSSCC Cybersecurity Profile

The Commodity Futures Trading Commission (CFTC) published a statement on July 16, 2020 encouraging private sector financial institutions regulated by the CFTC to adopt a standardized approach to assessing and improving cyber security preparedness. The CFTC outlines that when a standardized approach is implemented, it allows firms to better track their progress and share information and best practices with peers and the CFTC.

CFTC believes best practices for cyber security preparedness are provided by the National Institute of Standards and Technology (NIST), the International Organization for Standardization (ISO), the Information Systems Audit and Control Association (ISACA) and the Information Technology Infrastructure Library (ITIL). Additionally, the CFTC welcomes the use of tools such as the Financial Services Sector Coordinating Council (FSSCC).

Read more here.

NFA Proposed Amendments to NFA Interpretive Notice 9053 (Forex Transactions)

The NFA has proposed amendments to the supervision obligations in the Forex Notice to eliminate the annual onsite requirement for annual inspections by Forex Dealer Members (FDMs) and instead refers FDMs to the supervision notice. The NFA’s board unanimously approved the proposed amendments on August 20, 2020. 

Read more here.

National Futures Association – Third Quarter 2020 2020-10-12T00:00:00.0000000 /insights/publications/compliance-and-regulatory-consulting/us-regulatory-roundup-third-quarter-2020/nfa-update /-/media/assets/images/publications/featured-images/2020/nfa-update-2020.jpg publication {DA6CC51B-740E-439A-B283-2BBFB5326BAA} {EBC1AB28-1393-493C-AF32-19B3B0B6E171} {AE78058B-632F-4181-8793-2F244643BD06} {8CC387B9-439A-4A17-A4AC-B0EE71FBCBEC} {BF34F1DF-3936-486C-87F2-CE53256B7D76} {E51588E9-F74A-4D8B-8BBA-C5419571EF17} {D597E7E2-5285-4256-A8ED-0F3501A30718} {95D7F66C-11BB-4E7D-B07C-48874A321F98}

Other Areas We Can Help

Global Advice and Consulting

U.S. Regulation

Comprehensive support for asset managers registering in the U.S.

U.S. Regulation
CARES Act for both taxpayers and REIT's updates

Broker-Dealer Services

Broker-dealer registration, ongoing support services, and mock exams.

Broker-Dealer Services
Countermeasures in Vietnam: Deferral for Tax and Land Rent Payments

CFTC/NFA Services

Comprehensive CFTC registration and ongoing support.

CFTC/NFA Services