The National Futures Association ("NFA") reminded members that failure to comply with anti-money laundering ("AML") obligations may lead to disciplinary action.

In a Notice, the NFA directed members to NFA Compliance Rule 2-9(c) and an Interpretive Notice on futures commission merchant and introducing broker AML program requirements. The Notice details the AML obligations of NFA members, which include:

  • implementing a written AML program to ensure Bank Secrecy Act compliance;
  • training for all relevant employees every 12 months;
  • independent testing of the AML program every 12 months and documentation of results.

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