National Futures Association Issues Updated Self-Examination Questionnaire

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The National Futures Association (NFA) has updated the Self-Examination Questionnaire that all NFA members must complete annually. The revised questionnaire incorporates recent changes to NFA rules and Commodity Futures Trading Commission regulations. In particular, the supplemental questionnaire for CFTC merchants has added a series of questions relating to the CFTC’s enhanced customer protection rules, including: (1) recordkeeping and reporting with respect to customer funds; (2) the development and implementation of a risk management program; (3) recordkeeping with respect to customer transactions; and (4) the development and publication of a firm-specific disclosure document.

The updated questionnaire is available here.

An explanation of the changes made is available here.

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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