The End of CFTC/NFA Remote Work?

Since last March, the world has grappled with the transformational effects of the Coronavirus (Covid-19) pandemic. A fundamental shift in how industries operate unfolded before our very eyes. Old standards were replaced almost overnight by newer and more efficient ones.

Branch Office Supervision – Post Covid

For the last several years both the Commodity Futures Trading Commission (“CFTC”) and National Futures Association (“NFA”) have been reconsidering rules and regulations surrounding outside office supervision. The idea that registrants will always work from a static main office location is simply outdated. With the advent of remote working technology, and trading exchanges going almost entirely electronic, Associated Persons (“APs”) can work form just about anywhere. This begs the question; Does it really make sense for every AP that works away from an official company address to still be required to obtain the Series 30 license? The series 30 is still required under both CFTC regulation and NFA rule, however, it’s possible Covid my force regulators to rethink this obligation.

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.