NFA Archives - The Industry Spread

Wells Fargo in House Financial Services Crosshairs

March 9, 2020

This Committee staff report shines a much-needed spotlight on ‘The Real Wells Fargo,’ a reckless megabank with an ineffective board and management that has exhibited an egregious pattern of consumer abuses

NFA Bars Chicago Commodities Firm

September 20, 2019

The Decision, issued by NFA’s Business Conduct Committee (BCC), is based on a Complaint issued by the BCC. The BCC found that Systra and Kopp provided false information to NFA concerning Kopp’s trading activities on behalf of a pool managed by Systra.

NFA Sanctions a Wells Fargo Division

August 12, 2019

“On August 9, 2019, the Committee issued a complaint against Wells Fargo, a provisionally registered swap dealer and NFA member with its main office located in San Francisco, California. The complaint alleges Wells Fargo violated NFA Compliance Rule 2-49 (a) by failing to communicate with a counterparty in a fair and balanced manner as required under Commodities Futures Trading Commission Regulation 23.433,” the decision stated. 

NFA Leader Speaks on the Hill

July 4, 2019

In partnership with the CFTC, we have developed a regulatory oversight program that reviewed in detail their policies and procedures upon registration, performs regular examinations of US and non-US swap dealers, collects certain risk information from these firms, and we and we approve and monitor these firms initial margin models for uncleared swaps

Futures SRO Talks Budget

June 27, 2019

Meanwhile, the relationship between NFA and CFTC is like FINRA’s relationship with the Securities and Exchange Commission (SEC). All its rule changes must be approved, which is what that surcharge is waiting.