On April 23, the inaugural FinTech Exchange, brought to you by Barchart OnDemand, in association with FinTEx Chicago, will take place in Chicago. Registration for this new, half-day event is limited to the first 400 attendees, so be sure to register early to save your seat! You will have the opportunity to hear from over 20 leaders in Financial Technology innovation, specific to Financial Markets & Trading. April 23 at 1pm Feinberg Theatre, Venue SIX10 – Chicago *For more information and to register, visit: www.FinTechChicago.com Topics will include: Cloud Computing Trading Software Big Data Analytics Algo Trading High-Speed Networks Crowdsourced....
2014 Commodities in Review
2014 had its share of commodity headlines. With the year now completed, this is a good opportunity to review the previous year of the commodity markets. There was something for everyone as some commodity markets rallied, but many commodity markets declined in 2014. Several of the markets experienced price lows not seen in several years. The last several months of 2014 will definitely be known for falling oil prices as the topic found itself constantly in the headlines and in the conversation of the business, economic and political news. Besides energy, the metals and grain sectors made significant lows. One....
The Importance of Integrated Marketing in the Brokerage (or Any) Business
The Importance of Integrated Marketing in the Brokerage (or Any) Business Whether you’re a fan of the Kardashian family or not, you’ve gotta give one thing to them – they know how to market, and how to turn their name into a brand with a consistent integrated effect. Not everyone knows how to do that intuitively, but there are actually many things you can do – some quite easy – to make your brokerage recognizable to your prospect base. First, and foremost, make sure that everything you are doing that has to do with any form of firm communication has....
CFTC/NFA/CME Regulatory Updates
CFTC Relief Letter Concerning Quarterly Account Statements of CPOs of Funds of Funds On November 6, 2014, the Division of Swap Dealer and Intermediary Oversight (the “Division”) of the Commodity Futures Trading Commission (“CFTC”) issued CFTC Letter No. 14-142 (“Letter 14-142”). Letter 14-142 grants exemptive relief to two commodity pool operators (namely, the applicant “CPOs”) from the 30-day period for distribution of quarterly statements to participants under CFTC Rule 4.7(b)(2). In order to receive such relief, the CPOs would instead provide the information required under CFTC Rule 4.7(b)(2) to participants on a monthly basis within 45 days of the month....
Housekeeping, Reminders, and Updates
Securities and Exchange Commission Investment Advisers registered with the Securities and Exchange Commission (“SEC”) and state securities authorities are required to file an annual updating amendment to the Form ADV (“Annual Update”). Investment advisers are required to file the Annual Update by March 31st, if their fiscal year ends December 31st, so that the amendment is submitted within ninety (90) days of the fiscal year end. For investment advisers with a fiscal year end in a month other than December, the Annual Update must be filed within ninety (90) days of their fiscal year end. The Form ADV is submitted....
Ask the NFA
As your industry advocate, the NIBA provides many services which help your business stay in compliance with NFA regulations. “Ask the NFA,” is the way you can ask questions about those regulations and compliance requirements without having to call NFA directly. Just email us at [email protected] and we will get the answers for you. Please keep in mind the purpose of this contact is to keep the lines of communication between NFA and NIBA members open, not to fix any specific individual concerns. This month’s questions were selected from those submitted by NIBA members. The answers were supplied by NFA....
FinCEN issues an advisory on the FATF-identified jurisdictions with AML/CFT deficiencies
On March 16, 2015, the Financial Crimes Enforcement Network (FinCEN) issued an advisory announcing that the Financial Action Task Force (FATF) had updated its list of jurisdictions with strategic AML/CFT deficiencies. NFA Member FCMs and IBs should review this advisory to ensure that their AML programs have the most current information on FATF-identified jurisdictions with AML/CFT deficiencies and revise their AML programs accordingly. A copy of the advisory is available on FinCEN’s website....
Arditti Summer Research Grant Program
The Arditti Center for Risk Management at DePaul University is pleased to announce that it is now accepting proposals for its 2015 Summer Research Grant Program. The program’s goal is to encourage practical and innovative research in the field of risk management. In order to promote the Center’s research agenda and continue the Arditti legacy, the Center will provide summer funding for two research proposals that have a blend of theoretical and empirical applications. Proposals should be sent as one packet, and contain all three of the following materials: a cover page, a description of the proposal (at most ten....
Housekeeping, Reminders and Updates
NATIONAL FUTURES ASSOCIATION Commodity Pool Operators The National Futures Association (“NFA”) has modified the EasyFile system for the annual pool financial statements submitted by commodity pool operators (“CPOs”). The NFA announced the changes to the annual pool financial statements in the February 10th Notice to Members, Notice I-15-09. Changes to the annual pool financial statements are effective for financial statements dated after November 29, 2014. EasyFile has been updated to now include a new Cover Page for each pool operated by the CPO. The pool Cover Page includes questions regarding whether the annual report is audited. Additional questions will be....
“Ask NFA” Question of the Month
I was recently examined by NFA. It appeared like the examiner’s exam plan “play book” that did not completely fit my business. Please describe how NFA’s examination programs are structured. Specifically, are examination programs designed to review the unique aspects for the different registration types (i.e. FCMs, RFEDs, IBs, CTA and CPOs)? Yes. NFA examination programs are designed to allow for focused examinations of the different registrant types. Additionally, NFA plans each exam so that it’s tailored to the unique business operations and risks of the Member. No two Members’ businesses are exactly alike – even Members within the same....