NFA Starts Looking for New Chair as Daniel Roth Prepares to Retire
- The National Futures Association is going to have to find a new chair in the coming year.
The U.S. National Futures Association (NFA) has begun a process of selecting a new Chief Executive Officer (CEO). The self-regulatory organization overseeing the derivatives industry has been headed by Daniel Roth since 2003, but his tenure at the NFA has been developing since 1983.
Mr. Roth joined NFA as an attorney and worked his way up to the positions in the NFA’s general council, later becoming an executive vice president. Before being appointed as CEO he also held the role of Chief Operating Officer (COO).
During his tenure at the NFA, Roth led the initiative on taking major regulatory decisions which have led to a substantial decline in complaints against the U.S. futures industry. That said, under his tenure the capital requirements for foreign Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term dealers have increased dramatically, effectively stifling growth in the U.S. retail FX market.
Many argue that the moves by the NFA in its oversight of retail foreign exchange dealers have failed to protect the best interests of clients. The tough regulatory stance of the NFA has effectively reduced competition amongst RFEDs and left the market with five players - FXCM, GAIN Capital, Interactive Brokers, OANDA and TD Ameritrade.
NFA Appoints Search Committee to Find Successor
The NFA will look for a successor in the coming months with the self-regulatory organization delegating the task to a search committee comprised of board members and financial markets professionals.
Commenting on the announcement, Mr Roth said: "NFA is well-positioned to fulfill its expanding regulatory responsibilities in the coming years. I've been honored to spend more than 30 years working with a talented and diverse group of professionals who are dedicated to safeguarding market integrity.”
The U.S. self-regulatory organization has been working in tandem with the government’s Commodity Futures Trading Commission. CFTC CFTC The 1974 Commodity Exchange Act (CEA) in the United States created the Commodity Futures Trading Commission (CFTC). The Commission protects and regulates market activities against manipulation, fraud, and abuse trade practices and promotes fairness in futures contracts. The CEA also included the Sad-Johnson Agreement, which defined the authority and responsibilities for the monitoring of financial contracts between the Commodity Futures Trading Commission and the Securities and Exchange Commiss The 1974 Commodity Exchange Act (CEA) in the United States created the Commodity Futures Trading Commission (CFTC). The Commission protects and regulates market activities against manipulation, fraud, and abuse trade practices and promotes fairness in futures contracts. The CEA also included the Sad-Johnson Agreement, which defined the authority and responsibilities for the monitoring of financial contracts between the Commodity Futures Trading Commission and the Securities and Exchange Commiss Read this Term’s Commissioner Sharon Bowen said: "Dan has been working with NFA to protect the markets during a variety of major events, including the 2008 financial crisis.”
The U.S. National Futures Association (NFA) has begun a process of selecting a new Chief Executive Officer (CEO). The self-regulatory organization overseeing the derivatives industry has been headed by Daniel Roth since 2003, but his tenure at the NFA has been developing since 1983.
Mr. Roth joined NFA as an attorney and worked his way up to the positions in the NFA’s general council, later becoming an executive vice president. Before being appointed as CEO he also held the role of Chief Operating Officer (COO).
During his tenure at the NFA, Roth led the initiative on taking major regulatory decisions which have led to a substantial decline in complaints against the U.S. futures industry. That said, under his tenure the capital requirements for foreign Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term dealers have increased dramatically, effectively stifling growth in the U.S. retail FX market.
Many argue that the moves by the NFA in its oversight of retail foreign exchange dealers have failed to protect the best interests of clients. The tough regulatory stance of the NFA has effectively reduced competition amongst RFEDs and left the market with five players - FXCM, GAIN Capital, Interactive Brokers, OANDA and TD Ameritrade.
NFA Appoints Search Committee to Find Successor
The NFA will look for a successor in the coming months with the self-regulatory organization delegating the task to a search committee comprised of board members and financial markets professionals.
Commenting on the announcement, Mr Roth said: "NFA is well-positioned to fulfill its expanding regulatory responsibilities in the coming years. I've been honored to spend more than 30 years working with a talented and diverse group of professionals who are dedicated to safeguarding market integrity.”
The U.S. self-regulatory organization has been working in tandem with the government’s Commodity Futures Trading Commission. CFTC CFTC The 1974 Commodity Exchange Act (CEA) in the United States created the Commodity Futures Trading Commission (CFTC). The Commission protects and regulates market activities against manipulation, fraud, and abuse trade practices and promotes fairness in futures contracts. The CEA also included the Sad-Johnson Agreement, which defined the authority and responsibilities for the monitoring of financial contracts between the Commodity Futures Trading Commission and the Securities and Exchange Commiss The 1974 Commodity Exchange Act (CEA) in the United States created the Commodity Futures Trading Commission (CFTC). The Commission protects and regulates market activities against manipulation, fraud, and abuse trade practices and promotes fairness in futures contracts. The CEA also included the Sad-Johnson Agreement, which defined the authority and responsibilities for the monitoring of financial contracts between the Commodity Futures Trading Commission and the Securities and Exchange Commiss Read this Term’s Commissioner Sharon Bowen said: "Dan has been working with NFA to protect the markets during a variety of major events, including the 2008 financial crisis.”