NFA updates dispute rules between customers and NFA members
Effective Date of an Amendment to Code of Arbitration Section 20 - Other Legal Proceedings
An amendment to NFA's Code of Arbitration (Code), which governs disputes between customers and NFA Members, is effective immediately for all customer cases pending on or after October 7, 2010. The amendment provides that during an arbitration proceeding filed by a customer that is not an eligible contract participant, all parties to the arbitration are prohibited from bringing any suit, legal action or proceeding outside of the arbitration proceeding against any other party that would resolve any of the matters raised in the arbitration.
More information on NFA's amendment to Section 20 of the Code can be found in NFA's September 14, 2010 Submission Letter to the CFTC. Questions concerning this amendment should be directed to Christine Roche, Manager, Arbitration Department (croche@nfa.futures.org or 312-781-1562).
Effective Date of an Amendment to Code of Arbitration Section 20 - Other Legal Proceedings
An amendment to NFA's Code of Arbitration (Code), which governs disputes between customers and NFA Members, is effective immediately for all customer cases pending on or after October 7, 2010. The amendment provides that during an arbitration proceeding filed by a customer that is not an eligible contract participant, all parties to the arbitration are prohibited from bringing any suit, legal action or proceeding outside of the arbitration proceeding against any other party that would resolve any of the matters raised in the arbitration.
More information on NFA's amendment to Section 20 of the Code can be found in NFA's September 14, 2010 Submission Letter to the CFTC. Questions concerning this amendment should be directed to Christine Roche, Manager, Arbitration Department (croche@nfa.futures.org or 312-781-1562).