The National Futures Association ("NFA") issued a notice concerning the recently amended NFA Rules, Financial Requirements Section 14 regarding the daily confirmation of funds covering liabilities to retail forex customers. Forex dealer members ("FDMs") now will be required to instruct any forex funds depository holding such funds to report the balances in the relevant accounts on a daily basis to the NFA or a third party designated by the NFA. The amendment also provides that the forex funds depository must comply with this request in order to be an acceptable depository for retail forex

The CFTC filed a Notice of Intent ("Notice") to deny the application of Zero Chaos Advisors LLC to register with the CFTC as a Commodity Trading Advisor ("CTA") and of an individual seeking to register as an associated person ("AP") of Zero Chaos. The Notice alleges that the individual seeking to register as an AP of Zero Chaos is subject to statutory disqualification from CFTC registration based on his 1998 conviction for bank embezzlement, as well as for false or misleading statements that he made in his March 2, 2014 registration applications and prior applications. The Notice also alleges

The CFTC Divisions of Clearing and Risk and Market Oversight announced that swap execution facilities ("SEFs") and designated contract markets ("DCMs") will have time-limited no-action relief from certain CFTC rules if a SEF or DCM permits a new trade, with terms and conditions that match those of the original trade other than time of execution, to be submitted for clearing. Specifically, the CFTC announced that SEFs and DCMs will have time-limited no-action relief from CFTC Rule 37.9(a)(2) ("Methods of Execution for Required and Permitted Transactions"), or CFTC Rule 37.203(a) ("Rule

The CFTC announced that CFTC Chair Tim Massad and Australian Securities and Investments Commission ("ASIC") Chair Greg Medcraft signed a Memorandum of Understanding ("MOU") regarding the cooperation and the exchange of information in the supervision and oversight of regulated entities that operate on a cross-border basis in the United States and Australia. The CFTC and ASIC expressed their willingness to cooperate in the interest of fulfilling their respective regulatory mandates and reducing systemic risk. The scope of the MOU includes: markets and organized trading platforms; trade

The CFTC Division of Swap Dealer and Intermediary Oversight ("DSIO") issued an extension of No-Action Letter 14-08 and stated that the CFTC would not take enforcement action against a registered futures commission merchant ("FCM") that holds certain 30.7(c) customer accounts in London and Hong Kong. CFTC Letter 14-08 provides time-limited no-action relief to Rule 30.7(c) ("Treatment of Foreign Futures or Foreign Options Secured Amount"). CFTC Rule 30.7(c) provides that an FCM must deposit customer funds according to the laws and regulations of the foreign jurisdiction that affords the greatest