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Nfa Forex Regulatory Guide

Nfa Forex Regulatory Guide

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Published by Elite E Services FX
NFA Forex Guide
NFA Forex Guide

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Categories:Business/Law, Finance
Published by: Elite E Services FX on Sep 17, 2009
Copyright:Attribution Non-commercial

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Forex Transactions
A Regulatory Guide
 
September 2009
 
Table of Contents
Introduction
......................................................................................... 1
Registration
......................................................................................... 2
 
Counterparties ......................................................................................... 2Associated Persons ................................................................................. 2Introducing Entities .................................................................................. 2Account Managers ................................................................................... 3Pool Operators ......................................................................................... 3
 
Members Subject to the Forex Requirements
 
......................... 4
 
Soliciting Customers
 
........................................................................ 5
 
Customer Information and Risk Disclosure ............................................. 5Communications with the Public and Promotional Materials ................... 6
Customer Orders
................................................................................ 9
 
Managing Customer Accounts ................................................................. 9Offsetting Transactions ............................................................................ 9Price Adjustments .................................................................................... 9
Recordkeeping and Reporting
.................................................... 11Recordkeeping Requirements ................................................................ 11Customer Statements ............................................................................ 11
Supervision
 
........................................................................................ 14
Doing Business with Non-Members
 
........................................... 18
 
Dues
 
..................................................................................................... 20
 
Security Deposits
 
............................................................................ 22
 
Financial Requirements
 
................................................................ 24
 
Forex Dealer Member Capital Requirements ........................................ 24Net Capital Calculation .......................................................................... 24Financial Books and Records ................................................................ 27Financial Internal Controls ..................................................................... 28Weekly Forex Reporting Requirements ................................................. 28
Anti-Money Laundering Programs
 
.............................................. 29Developing Policies, Procedures, and Internal Controls ....................... 29Other Requirements ............................................................................... 31
Bulk Assignment or Liquidation
................................................. 33Bulk Assignments and Transfers ........................................................... 33
 
Bulk Liquidations .................................................................................... 34Records .................................................................................................. 35Ceasing Business .................................................................................. 35
General Requirements
................................................................... 36Privacy Rules ......................................................................................... 36Business Continuity and Disaster Recovery Plans ................................ 37
Appendix 1: Selected NFA Forex Rules
........................................... 38
Appendix 2: Interpretive Notices
....................................................... 64
Appendix 3: Additional Resources
................................................. 102
Appendix 4: Sources of Additional Information
............................ 104

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