National Futures Association
|This article does not cite any references or sources. (July 2008)|
|Key people||Daniel J. Roth, President, CEO
W. Robert Felker, Chairman
|Products||Registration, Compliance, Enforcement, Trade Practice and Market Surveillance, Dispute Resolution, Education|
The National Futures Association (NFA) is an independent self-regulatory organization and watchdog of the commodities and futures industry in the United States. The NFA oversees and protects investors from fraudulent commodities and futures activities. The NFA also provides mediation and arbitration for resolving consumer complaints. NFA is headquartered in Chicago, IL and also maintains an office in New York City.
In 1974, the United States Congress established a federal regulatory agency called the Commodity Futures Trading Commission (CFTC). Under the Commodity Exchange Act, Congress gave jurisdiction over commodity and futures trading, and allowed the futures industry to create a national self-regulatory organization, which in 1982 would create the National Futures Association (NFA).
In 1998 the NFA created online access to the Background Affiliation Status Information Center (BASIC). BASIC, provides current and historical registration information, disciplinary actions of all current and former CFTC registrants.
Regulatory Services to Swap Execution Facilities
NFA has announced it will provide regulatory services to entities classified as a Swap Execution Facility. These entities are subject to substantial new regulations. Firms engaged with NFA to provide such oversight include:
- FX Alliance Inc. (FXall)
- GFI Group Inc. (GFI)
- MarketAxess Holdings Inc. (Nasdaq: MKTX)