United States:
NFA Issues Final Reminder To Comply With Swaps Proficiency Requirements
27 January 2021
Cadwalader, Wickersham & Taft LLP
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NFA reminded firms that January 31, 2021 is
the compliance date for the associated persons ("APs") of
swap dealers and intermediaries to satisfy the Swaps Proficiency
Requirements.
In a Notice to Members, NFA reiterated that individuals who do
not satisfy the requirements by such date will be unable to engage
in swaps activities, and will have their registration withdrawn if
they fail to comply. NFA noted that, prior to the compliance date,
firms should withdraw the swap designation of registered APs who
will no longer conduct swaps activities.
Primary Sources
NFA Notice I-21-04: Final Reminder - Compliance
Date for NFA's Swaps Proficiency Requirements Is January 31,
2021
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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