CFTC/NFA – Regulatory Recap – May 2020

It can be difficult to keep track the various regulatory announcements and changes that occur during a month.  To better assist you Turnkey Trading Partners has put together a summary of the various regulatory notices and adjustments which have occurred since our last newsletter.

NFA Swaps Proficiency Test: An Inside Look

In March 2019, NFA announced that all swap Associated Persons (APs) would be required to complete a new swaps proficiency requirement by January 31, 2021. As swap firms are aware, the initial registration process was completed by NFA earlier this year to setup a swap administrator for all firms and also list any APs that would be required to take the proficiency test.

NFA UPDATE — Relief from Fingerprinting Requirements

Due to concerns regarding the spread of COVID-19, NFA temporarily suspended its fingerprinting services in March. NFA understands that this action, along with the measures taken by federal, state and local governments to restrict the movement of, and contact among, individuals, makes it difficult for individuals to obtain fingerprints and comply with both CFTC and NFA fingerprinting requirements.