Until recently I was working as a field auditor with the National Futures Association (“NFA”). During my time at NFA, the self-regulator was enduring a great deal of criticism. After the failures of MF Global and PFG calls for the heads of NFA’s leadership were coming in at a frenetic pace. While this period was no doubt painful for NFA to endure, the long hard look in the mirror they had to take as an organization became transformative. Today NFA is implementing some of the most sweeping changes to its audit approach since becoming the industry’s lead watch dog. After…