Mon, Oct 12, 2020
National Futures Association – Third Quarter 2020
Executive Summary
Oct 12, 2020
U.S. Securities and Exchange Commission Update – Third Quarter 2020
Oct 12, 2020
Financial Industry Regulatory Authority Update – Third Quarter 2020
Oct 12, 2020
National Futures Association – Third Quarter 2020
Oct 12, 2020
Enforcement Matters – Third Quarter 2020
Oct 12, 2020
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The Compliance and Regulatory Consulting practice highlights regulatory information relating to the NFA from the third quarter of 2020.
CFTC Encourages Standardized Approaches to Assessing Cyber Security Preparedness, Including the FSSCC Cybersecurity Profile
The Commodity Futures Trading Commission (CFTC) published a statement on July 16, 2020 encouraging private sector financial institutions regulated by the CFTC to adopt a standardized approach to assessing and improving cyber security preparedness. The CFTC outlines that when a standardized approach is implemented, it allows firms to better track their progress and share information and best practices with peers and the CFTC.
CFTC believes best practices for cyber security preparedness are provided by the National Institute of Standards and Technology (NIST), the International Organization for Standardization (ISO), the Information Systems Audit and Control Association (ISACA) and the Information Technology Infrastructure Library (ITIL). Additionally, the CFTC welcomes the use of tools such as the Financial Services Sector Coordinating Council (FSSCC).
Read more here.
NFA Proposed Amendments to NFA Interpretive Notice 9053 (Forex Transactions)
The NFA has proposed amendments to the supervision obligations in the Forex Notice to eliminate the annual onsite requirement for annual inspections by Forex Dealer Members (FDMs) and instead refers FDMs to the supervision notice. The NFA’s board unanimously approved the proposed amendments on August 20, 2020.
Read more here.
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