NFA Adopts Supervisory Framework On Outsourcing Arrangements - Finance and Banking
To print this article, all you need is to be registered or login on Mondaq.com. NFA approved the adoption of a new interpretive notice to Compliance Rules 2-9 ("Supervision") and 2-36 ("Requirements for Forex Transactions") that requires CFTC-registered firms that outsource regulatory obligations to implement a written supervisory framework governing the outsourcing arrangements. NFA stated that firms should tailor their written supervisory frameworks to their specific business activities, and should address the following areas: Initial Risk Assessment. A firm should d...
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