NFA will launch its Swaps Proficiency Requirements webpage on
January 31, 2020. NFA reminded members that compliance is required
by January 31, 2021.
According to NFA, individuals that must comply with the
requirements include (i) swap associated persons ("AP")
at a futures commission merchant ("FCM"), (ii)
introducing brokers ("IBs"), (iii) CPOs and CTAs and (iv)
APs at swap dealers ("SDs"). NFA stated that compliance
must be met in order to remain certified as a swap AP or an AP at
an SD, and that firms must designate a Swaps Proficiency
Requirements Administrator to aid enrollment.
In addition, NFA noted that it will provide an FAQ and host two
webinars on January 15, 2020 and January 28, 2020.
