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NFA To Develop Swaps Proficiency Requirements Program

NFA's Board recently approved the development of a proficiency requirements program for individuals engaged in swaps activities, which will be in the form of an online learning program with an embedded examination. This program will be applicable to all associated persons (AP) engaging in swaps activities, including those who are designated as swaps APs at futures commission merchants (FCM), introducing brokers (IB), commodity pool operators (CPO), and commodity trading advisors (CTA), and those individuals who act as APs at swap dealers (SD). The Commodity Exchange Act (Act) requires NFA to establish training standards and proficiency testing for persons involved in the...