Table of Contents
- Introduction ......................................................................................... 1
- Registration ......................................................................................... 2
- Counterparties ......................................................................................... 2
- Associated Persons ................................................................................. 2
- Introducing Entities .................................................................................. 2
- Account Managers ................................................................................... 3
- Pool Operators ......................................................................................... 3
- Members Subject to the Forex Requirements ......................... 4
- Soliciting Customers ........................................................................ 5
- Customer Information and Risk Disclosure ............................................. 5
- Communications with the Public and Promotional Materials ................... 6
- Customer Orders ................................................................................ 9
- Managing Customer Accounts ................................................................. 9
- Offsetting Transactions ............................................................................ 9
- Price Adjustments .................................................................................... 9
- Recordkeeping and Reporting .................................................... 11
- Recordkeeping Requirements ................................................................ 11
- Customer Statements ............................................................................ 11
- Supervision ........................................................................................ 14
- Doing Business with Non-Members ........................................... 18
- Dues ..................................................................................................... 20
- Security Deposits ............................................................................ 22
- Financial Requirements ................................................................ 24
- Forex Dealer Member Capital Requirements ........................................ 24
- Net Capital Calculation .......................................................................... 24
- Financial Books and Records ................................................................ 27
- Financial Internal Controls ..................................................................... 28
- Weekly Forex Reporting Requirements ................................................. 28
- Anti-Money Laundering Programs .............................................. 30
- Developing Policies, Procedures, and Internal Controls ....................... 30
- Other Requirements ............................................................................... 32
- Bulk Assignment or Liquidation ................................................. 34
- Bulk Assignments and Transfers ........................................................... 34
- Bulk Liquidations .................................................................................... 35
- Records .................................................................................................. 36
- Ceasing Business .................................................................................. 36
- General Requirements ................................................................... 37
- Privacy Rules ......................................................................................... 37
- Business Continuity and Disaster Recovery Plans ................................ 38
- Appendix 1: Selected NFA Forex Rules ........................................... 39
- Appendix 2: NFA Interpretive Notices .............................................. 65
- Appendix 3: Additional Resources ................................................. 103
- Appendix 4: Sources of Additional Information ............................ 105