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NFA Forex Regulatory Guide


About This File

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


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