The CFTC has adopted a final rule, CFTC Rule 170.17, which will require almost all IBs, CTAs and CPOs to become NFA Members. CFTC Rule 170.17 requires each person or entity registered as an IB, CTA or CPO to also be a member of a “registered futures association,” subject to a narrow exception for registered CTAs that meet the requirements of the exemption from registration set forth in CFTC Rule 4.14(a)(9). The NFA is the only registered futures association; thus, most CFTC registrants who are not NFA members will be required to become members of NFA or withdraw their registrations. …