National Futures Association Issues AML Warning to FCMs and IBs

[kreslik.news]

The National Futures Association (NFA), a self-‎regulatory organization for ‎the US derivatives industry, ‎today warned registered FCMs and IBs that their non-‎compliance with its AML requirements could lead ‎to disciplinary actions and, in some cases, hefty fines.‎

The Chicago-based regulator requires all FCMs and IB members to maintain an ‎AML program that includes an annual review to ‎be conducted by its personnel or by an independent third party. ‎

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Stricter regulations were introduced recently which now require each futures ‎commission merchant (FCM) and introducing broker (IB) to develop ‎and implement a written ... (read more)