NFA Proposes Amendments To Branch Office Interpretive Notice

NFA proposed amendments to NFA Notice 9002 - Registration Requirements; Branch Offices that would modify the definition of "branch office" to exclude certain locations that are part of a hybrid work-from-home environment. NFA stated that the amendments are meant to reflect the operational changes resulting from the COVID-19 pandemic.

The proposed amended definition of "branch office" would exclude "locations where one or more APs [associated persons] from the same household live or rent/lease the location," if:

• the location is not held open to the public as the member firm's office would be;
• the location is not used for the purpose of in-person customer meetings or the physical handling of customer funds; and