NYSE Trading Floor Re-Opens and Adds Proposed DMM Rule Changes

Updated: 2 days ago

May 21st | 2020

On May 19th and 20th, 2020, the National Futures Association (“NFA”) Board approved NFA Rule changes and proposed additional amendments. Such changes included technical amendments that include adding a definition of Swap Execution Facility to NFA Compliance Rule 1-1, updating NFA Compliance Rule 2-13 to specify that the documents and notices required under paragraph (c) of the Rule are to be filed electronically through NFA’s filing system, and eliminating obsolete provisions. The NFA Board also proposed amendments to increase the maximum penalty amount available to NFA disciplinary panels and Appeals Committee, modify the Rules related to certain Business Conduct Committee’s practices to make minor technical amendments. The proposed amendments increase the maximum penalty fine amount from $250,000 to $500,000 per violation. These amendment come on the heels of the Commodity Futures Trading Commission’s Enforcement Manual published on May 20, 2020.

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