The National Futures Association (NFA) has proposed amendments to its interpretive notice entitled “Compliance Rule 2-9: Enhanced Supervisory Requirements.” Specifically, the proposed amendments would require all members subject to enhanced supervisory requirements to maintain a record of all electronic written messages, including emails, text messages, instant messages, chat room discussions and other social media communications. Members subject to enhanced supervisory requirements must prepare a catalog of electronic written communications and require associated persons to maintain a log of those written electronic communications.
The proposed amendments are intended to parallel the current recordkeeping requirements relating to telephone sales solicitations by members subject to enhanced supervisory requirements.
The proposed amendments will be effective as of December 7, unless the CFTC determines to review the proposals for approval.
The proposed amendments are available here.