NFA Reminds Members of New Year's Day Holiday Related Reporting and 2014 Schedule

The independent self-regulatory organization of the U.S. Futures, Commodities, Derivatives and Foreign Exchanges Markets, has issued its latest update to

nfa_logoIn its latest update to members under Notice I-13-45, dated December 26, 2013, the National Futures Association (NFA), which currently oversees some 4,152 members, reminds members of the reporting requirements for New Year’s Day and 2014 upcoming Holidays.

Forex Magnates had previously covered the NFA’s announcement regarding proposals related to PAMM accounts, after it had issued proposals for more information to be submitted by FX firms regarding customer accounts, and following a busy 2013 for the association. Accordingly, it will be interesting to see what 2014 will have in store from the NFA, in addition to the below referenced holiday reporting requirements.

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New Year’s Day 2014

The update from self- regulatory organization, the NFA, noted how the New Year’s day holiday will impact certain member’s regulatory filings as follows:

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  • Daily segregated, 30.7 secured, cleared swaps customer collateral and daily forex statements prepared as of December 31, 2013 are required to be submitted by 12:00 noon on January 2, 2014;
  • Daily segregated, secured and cleared swaps customer collateral statements are not required to be prepared as of January 1, 2014;
  • Daily forex statements are required to be prepared as of January 1, 2014 and are required to be submitted by 12:00 noon on January 2, 2014;
  • FCMs and RFEDs are reminded that any information filed after its due date must be accompanied by a fee for each business day that it is late.

2014 Holiday Filing Schedule

Also referenced in the update and posted on the NFA’s website is a complete schedule of filing requirements for the upcoming 2014 holidays, as well an updated calendar for due dates of Segregated Investment Detail Reports (SIDRs). The notice recommended that members view the calendars and keep the notice as a reference for the upcoming 2014 holidays filing requirements, as part of the reminder.

An excerpt of the complete schedule of filing requirements from the NFA for 2014 can be seen in the below graphic:

[Source: NFA]
Excerpt of Complete 2014 reporting schedule [Source: NFA]
As of November 30th, 2013, the NFA’s membership totals included the following registration categories, where the number of Retail Foreign Exchange Dealers, can be seen to have decreased as of recently:

NFA membership as of November 2013 [source: NFA]
NFA membership as of November 2013 [source: NFA]
Also, noted on the NFA’s homepage (around time of publication) was the following announcement regarding an expected system outage due to system maintenance this coming weekend: “The following systems will not be available on Sunday, December 29th, between 9:00 am and 10:00 am CT: Online Registration System, BASIC Data Entry, Security Futures Products Training, Online Payments, Online Arbitration Claims, Arbitrator Profile, Arbitrator Training, Employment Application and Profile System, and all Electronic Filings including EasyFile, Exemptions, Questionnaire, and Disclosure Documents…”

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