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Genesis Business Group Limited 
NFA ID : 0524075  CHECK NOW

U.S. NFA Introduction
National Futures Association (NFA), a non-commercial independent agency for US futures and foreign exchange transactions. 
 
The National Futures Association (NFA) is a self-regulatory organization for the futures industry established in 1976 under Section 17 of the US Commodity Exchange Act.
 
It is a non-profit membership organisation. Section 17 of the Commodity Exchange Act is derived from Chapter III of the ommodity Futures Trading Commission (CFTC) Act of 1974, which provides the registration of the Futures Association and the CFTC. On September 22, 1981, CFTC accepted  the NFA officially as the “Registered Futures Association”. On October 1, 1982, the NFA officially began operations. NFA performed several regulatory duties:
 
● Audited and supervised members must comply with the NFA financial requirements;
● Develop and enforce rules and standards for protecting the interests of customers;
● Arbitration of disputes related to futures;
● Review NFA membership, Futures Agents (FCM), Introducing Brokers (IBS), Commodity Trading Advisors (CTA) and Commodity Joint Venture Fund Managers (Outline) can all become member of NFA.
 
In addition, under Section 17, NFA performs some registration functions previously undertaken by CFTC under the Commodity Exchange Act. 
 
Any institution or individual registered with the CFTC may become a member of NFA, including all futures exchanges and any other futures business,provided that the applicant is eligible for NFA membership. In addition, as of 31 August 1985, in accordance with the Commodity Exchange Act employees of NFA members are required to register as NFA’s "Joint Member ". According to NFA Rule 1101 and CFTC Rule 17015, all FCM, IB,CTA and CPO are required to obtain the NFA membership.


 
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