Notices to Members

January 5, 2021

Reminder: Compliance Date for NFA's Swaps Proficiency Requirements is January 31, 2021

As a reminder, the compliance date for NFA's Swaps Proficiency Requirements is January 31, 2021. NFA Members with associated persons (AP) required to satisfy NFA's Swaps Proficiency Requirements must ensure these individuals do so by January 31, 2021. Individuals who do not satisfy the Swaps Proficiency Requirements by the compliance date will be unable to engage in swaps activities until they have done so. Further, those individuals' Associate Membership and AP registration will be withdrawn after the compliance date if the individual exclusively engages in swap activities on behalf of an NFA Member FCM, IB, CPO, or CTA.

After January 31, 2021, any individual seeking to engage in swaps activity will need to satisfy NFA's Swaps Proficiency Requirements prior to being approved as a swap AP at an intermediary or acting as an AP at an SD.

For more details, please see Notice to Members I-19-09.

Accessing NFA's Swaps Proficiency Requirements

Individuals affiliated with a Member firm who are not already enrolled in the Swaps Proficiency Requirements should contact their firm's SPR Administrator. For more information on accessing the Swaps Proficiency Requirements, please see NFA's instructions for using the Swaps Proficiency Requirements System.

Swaps Proficiency Requirements Resources

To help Members understand their obligations related to the Swaps Proficiency Requirements, Frequently Asked Questions, help guides, system requirements and other resources are available on NFA's Swaps Proficiency Requirements webpage.

If you have any questions regarding NFA's Swaps Proficiency Requirements, please contact NFA's Information Center (312-781-1410, 800-621-3570 or information@nfa.futures.org).