Header graphic for print
Securities Compliance Sentinel Analysis of cutting-edge securities industry issues

Category Archives: NFA Enforcement

Subscribe to NFA Enforcement RSS Feed

NFA Prohibits Funding of Retail Forex Accounts With Credit Cards

Posted in CFTC Compliance, NFA Enforcement

This week, the CFTC approved a NFA Interpretative Notice that prohibits a Member from accepting credit card payments from customers to fund retail forex accounts.  The NFA recently reviewed how customers fund their retail forex accounts and found that customers overwhelmingly funded their trading accounts using a credit card.  The NFA noted that credit cards… Continue Reading

So You Thought You Wanted To Be A Securities Lawyer

Posted in CFTC Enforcement, Federal and State Criminal Activities, Financial Industry Trends, FINRA Enforcement, NFA Enforcement, SEC Enforcement

Lawyers have often been the brunt of cruel jokes. But now, a recent study reported on by the Bureau of National Affairs shows, lawyers are the target of securities regulators. Why the sudden interest? For one, cooperation initiatives between regulators and those caught violating securities law convince these people to turn on their lawyer who… Continue Reading

NFA Implements Daily Confirmation System

Posted in NFA Enforcement

You may remember that I previously wrote about the NFA’s proposals earlier this year to better monitor customer segregated funds after some high profile monitoring failures.  The NFA recently began implementing its proposal to develop a daily segregation confirmation system that would require all depositories holding customer segregated funds, including banks, clearing FCMs, broker-dealers and… Continue Reading

NFA Issues Notice Regarding Pre-Dispute Arbitration Agreements

Posted in Compliance and Supervision, Dodd-Frank, NFA Enforcement

Last year, I blogged about the newly adopted Part 165 of the CFTC regulations, which implements the CFTC’s whistleblower program under the Dodd-Frank Act.  Last week, the NFA issued a notice reminding its members that CFTC Regulation 165.19 specifically provides that a pre-dispute arbitration agreement arising under the whistleblower rules is invalid.  As a result, the… Continue Reading

PSST!!! Want to Save Money on Your Legal Bills? Read on. . .

Posted in CFTC Enforcement, Federal and State Criminal Activities, FINRA Compliance, FINRA Enforcement, Intra-Industry Arbitrations, NFA Enforcement, PCAOB Enforcement, Public Customer Arbitrations, SEC Compliance, SEC Enforcement, Securities Class Actions, State Enforcement

Late last week, one of my colleagues sent me an e-mail where he copied 8 other people, half of them I could not identify if my life depended upon it.  I then heard about the person who had a Twitter account with over 17,000 follwers, and was now being sued by his former employer over ownership of the account–… Continue Reading

Josh Horn’s Ponzi Scheme Response Road Map

Posted in CFTC Compliance, CFTC Enforcement, Federal and State Criminal Activities, FINRA Compliance, FINRA Enforcement, NFA Enforcement, PCAOB Enforcement, SEC Compliance, SEC Enforcement, State Enforcement

My colleague, Josh Horn, has written an amazing article that should be on every compliance officer’s desk.  It details methods for investigating and responding to ponzi schemes.  In this day and age, we are met with another Ponzi scheme occurring or being uncovered almost every day.  Josh’s article is an exceptional primer since it details… Continue Reading

Securities Podcast with Ernest Badway

Posted in Broker-Dealer Regulation, CFTC Compliance, CFTC Enforcement, Compliance and Supervision, Federal and State Criminal Activities, Financial Industry Trends, FINRA Compliance, FINRA Enforcement, Hedge and Private Equity Funds, Intra-Industry Arbitrations, Investment Adviser Regulation, NFA Enforcement, PCAOB Enforcement, Public Customer Arbitrations, Registered Representatives, Sarbanes-Oxley, SEC Enforcement, Securities Class Actions, State Enforcement

Thought you might be interested in a recent podcast I did concerning my securities law practice.  http://web.me.com/cordpar/Client_Development_Tips/Law_Consulting_Coaching_Podcast/Entries/2011/10/28_Developing_a_Securities%2C_White_Collar_and_Complex_Litigation_Practice.html