The National Futures Association ("NFA") submitted a proposal to update the risk disclosure statement for security futures contracts that broker-dealers are required to provide to a customer prior to trading. The proposal will become effective 10 days after CFTC receipt of the NFA submission unless the CFTC elects to review the proposal for approval."
In conjunction with similar amendments by FINRA, the proposed changes would (i) reflect the shortened settlement cycle for securities transactions from three to two business days, (ii) update the contact information for the Securities Investor Protection Corporation, and (iii) make other "non-substantive stylistic changes."
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