Housekeeping, Reminders and Updates–Dec 2014

Notice I-14-33 On December 1st, the NFA released Notice to Members I-14-33 regarding the CFTC’s recent approval on the NFA’s Interpretive Notice entitled “NFA Compliance Rules 2-4 and 2-36: Prohibition on the Use of Certain Electronic Funding Mechanisms.” Effective January 31, 2015, the Interpretative Notice prohibits NFA Members from permitting customers to fund their futures and forex accounts with the use of a credit card or any other electronic method tied to a credit card. An example of another method tied to a credit card would be using payment facilitators such as PayPal that draw funds from credit card accounts. …

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