The National Futures Association (NFA) has announced effective dates for two sets of recent rule changes.
First, in connection with recent changes to NFA Compliance Rule 2-45 and an accompanying Advisory Notice, commodity pool operators (CPOs) that currently have loan or advance arrangements between the pools that they operate and the CPO, its principals or related entities, must notify the NFA of these arrangements by October 22. The written notice must contain certain specified information, as further described here.
NFA has also set an effective date of November 30 for amendments to NFA Financial Requirements Sections 11 and 12 and related changes to its Interpretive Notice on Forex Transactions. These amendments revise the net capital requirements for Forex Dealer Members (FDMs) and require all FDMs to collect a customer security deposit (regardless of the FDM’s capitalization). A press release regarding these amendments is available here.