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March 20, 2006 at 07:00 PM
CHICAGO (HedgeWorld.com)–The National Futures Association announced that it has reached an agreement with the CBOE Futures Exchange, a wholly owned subsidiary of the Chicago Board Options Exchange, by which the NFA will provide regulatory services to CFE.
In a joint statement by the NFA and CFE Wednesday [March 15], the two entities said the NFA’s services would involve trade practice and market surveillance.
Daniel J. Roth, NFA president, said that the NFA looks forward to providing these services. “We welcome this opportunity for NFA to utilize its unparalleled regulatory expertise and systems in the futures industry,” he said in the statement.
A spokeswoman for the NFA said Thursday that the agreement would take effect some time in the second quarter, although she couldn’t be more specific because she said there are still some technical issues to be addressed.
In another development, the NFA’s assistant general counsel, Carol A. Wooding, recently commented on proposed rules relating to due diligence programs for certain foreign accounts–rules issued by the U.S. Treasury’s Financial Crimes Enforcement Network.
