What is NFA? NFA (National Future Association) is an industry self-regulatory organization. NFA is a self-regulatory organization in the futures industry established on 17 according to the provisions of section 17 of the US Commodity Exchange Law. It is a non-profit member organization and a non-commercial independent regulator of futures and foreign exchange transactions in the United States.

Relatively speaking, the investment industry in the United States is relatively mature and standardized. Therefore, when many investors choose a securities broker, the first thing to look at is whether this institution is registered and managed in the NFA, and at the same time, they will also inquire whether this institution has any public information such as bad records during its operation. This measure provides some convenience for individual investors to know the credibility of traders and plays an important role in artificially reducing risks.

The National Futures Association (NFA) is a self-regulatory organization in the futures industry established on 1976 according to the provisions of Section 17 of the American Commodity Exchange Act, and it is a non-profit membership organization. On September 22nd, 198 1, CFTC accepted NFA as a "registered futures association", and on June 22nd, 1982, 10, NFA officially started to operate.

Regulatory duties performed by NFA

1. Audit and supervision members must meet the financial requirements of the NFA; 2. Formulate and implement rules and standards to protect the interests of customers; 3. Arbitration of futures-related disputes; 4. To become an NFA member, futures brokers, referral brokers, commodity trading consultants and commodity joint venture fund managers can all become NFA members.

Professional ethics standards implemented by NFA

The professional ethics standards implemented by NFA include those specified in section 17 of the Commodity Exchange Law, such as prohibiting fraud, manipulation and deception, and prohibiting unfair and improper transactions. The NFA also prohibits black market transactions and requires members to formulate a supervision system for employees and free accounts. These are similar to the requirements of CFTC and exchange. In addition, NFA requires CPO and CTA members to abide by the special regulations of CFTC and exchange. The NFA has also formulated the "know your customer" rule, which requires members to fully understand the situation of new customers before customers open futures accounts, and provide futures trading risk disclosure.