The Commodity Futures Trading Commission has approved revisions to a National Futures Association (NFA) Interpretive Notice relating to enhanced supervisory procedures for NFA member firms whose employees or principals previously worked for firms that were sanctioned by the CFTC or NFA because of their sales practices. The amendments to the Interpretive Notice (i) expand the definition of a Disciplined Firm to include firms that have been sanctioned by the CFTC or NFA during the preceding five years for using deceptive telemarketing practices or promotional material, even if the firm was not barred from the industry and (ii) require firms that charge 50% or more of their customers round-turn commissions, fees and other charges that total $100 or more per futures, forex or option contract to, among other things, tape record telephone calls between the member’s with both existing and potential customers, submit all promotional material to NFA at least 10 days prior to first use, adopt written supervisory procedures, make quarterly reports of its compliance with these requirements, and either operate pursuant to a guarantee agreement or maintain an increased level of adjusted net capital.