The Commodity Futures Trading Commission has adopted an amendment to Regulation 3.21 to provide an exemption for certain foreign natural persons from the general requirement that an applicant for registration with the CFTC as a principal or associated person of a registrant, or as a floor broker or floor trader, submit a fingerprint card with such person’s application. As amended, the regulation provides that a fingerprint card will not be required if the certifying firm, as defined in the regulation, confirms, inter alia, that: (1) the firm has caused a criminal history background check of such foreign natural person to be performed; (2) the background check is of a type that would reveal whether the individual has been found guilty of certain statutory disqualifications under the Commodity Exchange Act; and (3) the background check did not reveal any such convictions.
The regulation will become effective on May 2. To see the release published in the Federal Register, click here.
To see the full text of the regulation, click here.