INDUSTRY NEWS

NFA Announces Effective Date for Rule on Pre-Dispute Arbitration plus Code of Arbitration Amendments

Recently adopted Compliance Rule 2-53, effective as of April 15, 2025, requires NFA Members and Associates to comply with CFTC Regulation 166.5 when entering into or relying on pre-dispute arbitration agreements with non-eligible contract participants (ECP). Also, effective April 15, 2025, Section 1 of the NFA's Code of Arbitration has been amended, giving NFA jurisdiction over arbitration claims of non-ECP customers involving event contracts with NFA Members, Associates, or employees of Member firms filed on or after April 15, 2025.

FATF-identified jurisdictions updated by FinCEN

Alist of jurisdictions having strategic AML/CFT deficiencies was re-issued by FATF. FCMs and IBs need to incorporate this list into their AML programs. The release is available on FinCEN's website.

FINRA's online testing requirements for futures industry proficiency exams changed

FINRA's interim accommodation process ended as of June 9, 2023. Individuals who can request online administration of Series 3, Series 30, Series 31, Series 32, and Series 34 exams are now limited to those with underlying health conditions/immunocompromised (increased risk of severe illness) or those living more than 150 miles from a testing center.