US brokers to submit daily trading reports
Who wouldn't want to put their hands on these documents? I hope that one day NFA will publish these reports or at least some excerpts.
Notice I-10-30 December 22, 2010
Effective Date of NFA Compliance Compliance In finance, banking, investing, and insurance compliance refers to following the rules or orders set down by the government regulatory authority, either as providing a service or processing a transaction. Compliance concerning finance would also be a state of being following established guidelines or specifications. This designation can also encompass efforts to ensure that organizations are abiding by both industry regulations and government legislation. Understanding ComplianceCompliance is a In finance, banking, investing, and insurance compliance refers to following the rules or orders set down by the government regulatory authority, either as providing a service or processing a transaction. Compliance concerning finance would also be a state of being following established guidelines or specifications. This designation can also encompass efforts to ensure that organizations are abiding by both industry regulations and government legislation. Understanding ComplianceCompliance is a Read this Term Rule 2-48 - Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term Dealer Member Trade Reporting System
NFA Compliance Rule 2-48, which requires Forex Dealer Members (FDMs) to submit a daily electronic report of daily trade information to NFA, will become effective February 4, 2011. FDMs are required to prepare the report as of 5:00 PM EST and file it with NFA by 11:59 PM EST that same day. During the submission process, the FDM must certify that the report is true and complete. Prior to the effective date, FDMs are required to submit at least three consecutive sets of files with no errors to ensure that the firm can be validated via the system. Starting February 4, 2011, each daily report that is filed after it is due shall be accompanied by a late fee of $200 for each business day that it is late.
More information about NFA Compliance Rule 2-48 can be found in NFA's September 7, 2010 Submission Letter to the CFTC.
Who wouldn't want to put their hands on these documents? I hope that one day NFA will publish these reports or at least some excerpts.
Notice I-10-30 December 22, 2010
Effective Date of NFA Compliance Compliance In finance, banking, investing, and insurance compliance refers to following the rules or orders set down by the government regulatory authority, either as providing a service or processing a transaction. Compliance concerning finance would also be a state of being following established guidelines or specifications. This designation can also encompass efforts to ensure that organizations are abiding by both industry regulations and government legislation. Understanding ComplianceCompliance is a In finance, banking, investing, and insurance compliance refers to following the rules or orders set down by the government regulatory authority, either as providing a service or processing a transaction. Compliance concerning finance would also be a state of being following established guidelines or specifications. This designation can also encompass efforts to ensure that organizations are abiding by both industry regulations and government legislation. Understanding ComplianceCompliance is a Read this Term Rule 2-48 - Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term Dealer Member Trade Reporting System
NFA Compliance Rule 2-48, which requires Forex Dealer Members (FDMs) to submit a daily electronic report of daily trade information to NFA, will become effective February 4, 2011. FDMs are required to prepare the report as of 5:00 PM EST and file it with NFA by 11:59 PM EST that same day. During the submission process, the FDM must certify that the report is true and complete. Prior to the effective date, FDMs are required to submit at least three consecutive sets of files with no errors to ensure that the firm can be validated via the system. Starting February 4, 2011, each daily report that is filed after it is due shall be accompanied by a late fee of $200 for each business day that it is late.
More information about NFA Compliance Rule 2-48 can be found in NFA's September 7, 2010 Submission Letter to the CFTC.