The cyber security industry has gotten great at boundary defense. “Firewalls, Firewalls, Firewalls” – that’s all you heard for a long time emanating from the boardroom. Well the times they have changed. Now there are so many regulatory bodies and frameworks to be in compliance with, it is a struggle to keep every mandate straight. Questions like: ”Is your networking properly segmented?”, “How often are passwords changed?”, “what is your password complexity?”, “Is anyone checking those firewall logs?” Meanwhile the bad guys are waiting for your cyber defenses to fail, or worse, finding their own way in. The way they....
Prepare for 2016; NFA Examination Focus
The National Futures Association (“NFA”) Rules and Commodity Futures Trading Commission (“CFTC”) regulations that govern the futures, forex, and swap trading industry are subject to continuous interpretation, amendment, and update. Staying abreast of these changes is a critical component of maintaining regulatory and operational compliance for your next examination. NFA regularly emails member firms to advise them of pertinent rule changes, amendments, and interpretive notices. These Notices to Members are archived on the NFA website and are an excellent resource for Introducing Brokers (“IB”) and Commodity Trading Advisors (“CTA”) to stay up to date with the most recent industrywide regulation....
NFA announces Dashboard webinar on February 25
announces Dashboard webinar on February 25 In preparation for the launch of the NFA Dashboard, the new entryway to NFA’s Online Registration System (ORS), NFA will conduct a webinar on Thursday, February 25, 2016, at 10:00 a.m. CST. ORS is the web-based application that allows firms and individuals to apply for CFTC registration and NFA membership, and to manage their numerous filing requirements. Given that ORS is primarily a tool for Members, NFA staff solicited and received valuable Member feedback to improve the system’s usability and efficiency. The new Dashboard will summarize all of a firm’s outstanding compliance and registration....
NIBA Event- New York City — April 20
The NIBA spring membership event will be held on April 20, 1:30-6:00pm at the New York Athletic Club (NYAC), New York City. Three business sessions and a networking reception are included. Tentative Program: 1:30pm — Registration Desk Opens 2:00pm — Welcome 2:15pm — First Session: Jim Steele, HSBC 2:45pm — Break 3:00pm — Second Session 3:30pm — Break 3:45pm — Cybersecurity: Understanding the Regulations & Implementation: Panel: NFA; Rob DeMuria, Compliance Superviors; Ted Theisen, UnitedLex 4:45pm — Program Closes 5:00pm — Networking Reception at the NYAC Free admission to this meeting is....
Why Hackers Hack Websites: Securing Your Website for Compliance and to Protect Your Business
With the upcoming cybersecurity requirements by the NFA and nearly every regulatory body overseeing financial service industry participants, it’s important to not only comply with cybersecurity regulations but to use this as an opportunity protect your business’ website. Many businesses believe their website isn’t important enough to require website security for the following reasons: My company is too small My website doesn’t store sensitive client information My website is not that important to their business Hackers don’t discriminate by business size, may or may not target your client information directly, and will damage your brand reputation. Here are reasons why....
What’s Included with my Membership?
It’s membership renewal time! And once again this year, there is no increase in membership fees. Introducing Brokers, Commodity Trading Advisors and Commodity Pool Operators can join or renew Association membership for $150. And what do you get for $150 annually? Admission for one member of the firm to all NIBA events A click-thru firm listing in the Online Broker Directory NIBA Newsletter delivered twice monthly directly into your email Your opinions represented in a strong, loud voice to the CFTC, NFA and with exchanges and FCMs Access to “Members Only” benefits through the new website portal (opening within the....
February Chairman’s Letter
“To meet other IB and CTA owners.” “To attend the compliance sessions at the membership meetings — I can understand what those guys are saying.” “To make sure the CFTC hears my opinion.” “To get first-hand knowledge of what the NFA and exchanges are doing.” When I asked members why they belong to the NIBA, I heard those four reasons most often. That makes me proud and very happy, because those objectives are exactly what the NIBA was founded to meet. During 2016, NIBA will celebrate its 25th Anniversary Year. Please renew or join now during our annual membership campaign.....
NIBA-DePaul University Joint Program Announcement
The NIBA is proud to have DePaul University as its educational partner. NIBA is always looking for ways to add value to your membership and provide you with the resources, tools and education to further your business interests. The NIBA Board of Directors has recently formed a committee to work with DePaul University on promoting a joint program that focuses on placing qualified interns at firms within the industry. We have spoken to firms who have utilized DePaul interns in the past and have had great success, where both the firm and the intern mutually benefited. One of the biggest....
NIBA Member Testimonials
The NIBA is going to begin soliciting testimonials from current and new members to be included in monthly newsletter and highlighted online and in social media. The NIBA represents your interests and is always looking for ways to add value to your membership. The NIBA’s board appreciates your comments and looks forward to hearing more about your thoughts and experiences throughout the year. Current Member Testimonial: “The NIBA has been a wonderful resource for me. The content of their conferences, along with the connections I make with other attendees make it well worth my time. These resources have paid results....
Cybersecurity for IBs, CTAs, and CPOs
The NFA recently adopted an Interpretive Notice titled “Information Systems Security Programs” (Cybersecurity Interpretive Notice). This new NFA policy, which goes into effect March 1, 2016, requires FCMs, IBs, CTAs, CPOs, RFEDs, SDs and MSPs to implement a cybersecurity program in order to meet existing obligations to diligently supervise trading activities. Every registrant will be required to put in place policies and procedures reasonably designed to monitor and mitigate the risks of unauthorized access or attack on its information technology systems and to respond appropriately if such access or attack should occur. The new cybersecurity requirement is in addition to....