United States:
NFA Reminds Swaps Firms Of Annual Dues Surcharge
25 November 2019
Cadwalader, Wickersham & Taft LLP
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NFA reminded firms that are engaged in swaps
activities to pay the new annual dues surcharge by January 1,
2020.
According to the NFA notice, all swap-approved or swap-pending
firms under NFA Bylaw 301(l) must pay the $1,750 surcharge.
NFA noted that the surcharge is not applicable to current or
pending swap-approved firms that are no longer participating in
swaps activities. NFA stated that in order to avoid the surcharge,
firms must withdraw their swap approval status using NFA Form 7-W by December 1, 2019.
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