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NFA SWAPS Compliance Training due 31 January 2021


Friday, January 8, 2021
Introduction
By a Notice to Members dated 5 January 2021, the National Futures Association (NFA), the self-regulatory organization for the U.S. derivatives industry, reminded NFA members that their associated persons who are required to satisfy NFA’s Swaps Proficiency Requirements must do so by 31 January 2021.
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 Individuals who do not satisfy the Swaps Proficiency Requirements by 31 January 2021 will be unable to engage in swaps activities until they have done so.
SWAPS Proficiency Requirements 
The NFA announced the new mandatory swaps training and testing requirements on 25 March 2019. Associated Persons of swap firms (Swap APs) are required to complete the new NFA Proficiency Requirements by 31 January 2021, to remain approved as a Swap AP. There is no grandfathering of persons already registered. ....

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