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Last week the Board of the Directors of the U.S. self-regulatory organization (SRO) for the financial industry, the National Futures Association (NFA) has approved its new budget for fiscal 2017. The regulator will have $91 million to meet its obligations for the upcoming fiscal year.
NFA’s operating expenses are budgeted to increase by approximately 10 percent, due in large part to an increase in NFA’s staff. NFA’s fiscal year runs from July 1st through to the 30th of June.
The NFA will increase spending for NFA’s regulatory programs for swap dealers (SD) and major swaps participants (MSP) due to rising responsibilities for ... (read more)