National Futures Association (NFA). The National Q Goods Association (NFA) of the United States is a self-regulatory organization of the Q goods industry established in 1976 according to the provisions of Section 17 of the American Commodity Exchange Act, and it is a non-profit membership organization. The main function of NFA is to make NFA members strictly abide by the federal laws and the rules formulated by CFTC and implement strict management.
The responsibility of NFA
● Audit and supervision members must meet the financial requirements of NFA;
● Formulate and implement rules and standards to protect customers' interests;
● Arbitration of disputes related to goods Q;
● Approve NFA members, Q cargo agents, introduction brokers and commodity trading consultants.
Both CTA and commodity fund managers can become NFA members.
Description of regulations:
The American Q Cargo Association implements strict federal supervision and compliance audit on all companies engaged in financial services, and has formulated detailed supervision categories with strong pertinence according to different businesses of each company. Each category must meet the corresponding regulatory threshold and follow the corresponding regulatory requirements. Strict supervision system ensures that all financial companies registered in the United States and companies engaged in financial business will operate in strict accordance with NFA requirements to ensure the protection of investors' rights and interests. This license is a CPO fund/cash pool operator license and a CTA fund manager/investment consultant license, which can trade derivatives such as funds and W exchanges.
Main features of NFA -CPO/CTA:
1. High cost performance, low license application and operating cost.
2. There is no minimum deposit requirement.
3. The most stringent regulatory system recognized in the world.
4. Non-American shareholders are not required to pay taxes to the United States.
Process of obtaining NFA-CPO/CTA license. ※:
CTA and CPO need to register as NFA members and accept supervision. To register as CTA and CPO, you must follow the following steps:
1. appoint a safety management manager to complete the NFA registration system;
2. Submit NFA 7-R form and all corresponding legal documents;
4. Submit and complete the NFA annual questionnaire;
5. Pay the application fee;
6. Pay NFACATA and CPO membership fees;
NFA has professional requirements for CTA and CPO teams, and CTA and CPO dealers need at least one professional associate when registering. Relevant personnel have professional requirements. CTA and CPO traders are required to submit the following information for their principals and related personnel:
1. Submit an 8r form for each responsible person and relevant personnel;
2. Submit the fingerprint card;
3. Meet the requirements of professional ability;
4. Pay the application fee of the person in charge and relevant personnel.