The National Futures Association ("NFA") filed proposed amendments with the CFTC concerning certain registration rules.
The amendments concern the NFA's "complete rebuild of [its] Online Registration System." In accordance with this rebuild, the NFA is making changes to Form 8-R that include adding a requirement for firms registered as floor traders to file Form 8-R electronically for individuals who enter orders on behalf of the firm. The NFA also is discontinuing use of Form 3-R, which has been used to report changes to registration information, since those changes now are made online. In addition, the NFA is amending proficiency requirements in order to eliminate an exception that allowed for individuals who acted solely as principals to qualify for registration as NFA members without meeting the qualification-testing requirement.
The NFA filed the proposed amendments to become effective ten days after the proposal was received by the CFTC.
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