ors enhancements · if you have questions or would like more information, please contact nfa....

ORS EnhancementsPresented by:Yvette Christman, Vice-President, RegistrationChris Brettman, Manager, Business Systems and Information CenterPatrick Alfich, Manager, Investigations, Registration

What We’ll Talk About Today

2

• Firm Application (Form 7-R)/Annual Registration Update Changes

• Individual Application (Form 8-R) Changes

• Upcoming Initiatives

FIRM APPLICATION (FORM 7-R)/ANNUAL

REGISTRATION UPDATE CHANGES

Business Information Screen

4

The NFA Membership application was separated from the CFTC Form 7-R. To accommodate this change in the Application/Annual Update processes, the questions from the CFTC Form 7-R were moved in front of the NFA Membership questions.

Principal

5

Holding companies now include fields for additional information—Federal EIN, State and Country.

Disciplinary Information – Criminal Disclosures

6

Current VersionQuestion C

Is the firm or sole proprietor a party to any action, or is there a chargepending, the resolution of which could result in a "Yes" answer to the above questions?

New Version

Disciplinary Information – Regulatory Disclosures

7

Current VersionQuestion D

In any case brought by a domestic or foreign governmental body (other than the CFTC), has the firm or sole proprietor ever been permanently or temporarily enjoined after a hearing or default or as the result of a settlement, consent decree or other agreement, from engaging in or continuing any activity involving:• any transaction in or advice concerning futures, options, leverage transactions or securities; or • embezzlement, theft, extortion, fraud, fraudulent conversion, forgery, counterfeiting, false

pretenses, bribery, gambling, racketeering or misappropriation of funds, securities or property?

New Version


8

Current VersionQuestion E

In any case brought by a domestic or foreign governmental body (other than the CFTC), has the firm or sole proprietor ever been found after a hearing or default or as the result of a settlement, consent decree or other agreement, to:• have violated any provision of any investment-related statute or regulation; or • have violated any statute, rule, regulation or order which involves embezzlement, theft, extortion, fraud,

fraudulent conversion, forgery, counterfeiting, false pretenses, bribery, gambling, racketeering or misappropriation of funds, securities or property; or

• have willfully aided, abetted, counseled, commanded, induced or procured such violation by any other person?

New Version


9

Current VersionQuestion I

Is the firm or sole proprietor a party to any action, or is there a chargepending, the resolution of which could result in a "Yes" answer to the above questions?

New Version

Disciplinary Information – Financial Disclosures

10

Current VersionQuestion J

Has the firm or sole proprietor ever been the subject of an adversary actionbrought by, or on behalf of, a bankruptcy trustee?

New Version

Disclosure Matter Summary Page

11If a firm previously filed a matter page and/or a disclosure matter page, a summary of the filings will be available for review in the Annual Registration Update.

Registration Contact Information

12

Email address is now required for all contact types.

Membership Information Page

13

First page of the Membership Application.

Membership Contacts

14

• Email address is now required for all membership contacts.

• Now have the option of copying the Membership Contact information for additional contact types.

FIRM DISCLOSURE MATTER PAGES

Firm Disclosure Matter Pages

16

New navigation to access the DMP Filing System (click the applicable disclosure matter summary link under the Disciplinary Information section).


17

Disclosure matter summary screen in the DMP Filing System.


18

Current disclosures will appear under the Current Disclosure header along with a total of the number of DMPs on file.


19

Matter pages have been converted to DMPs and can be updated if needed.


20

To create a DMP, click the “Add DMP” button.


21

New Firm DMPs will have data fields similar to the Individual DMPs.


22

You will have the option to upload supporting documentation in the DMP. We will accept PDF, word, text and .tif document types.


23

You can "Save" the DMP if it's not complete, "File" the DMP, or "Cancel" the DMP.


24

Saved DMPs will appear as “In Process” in the grid and can be deleted.


25

Click the link in the Date DMP Filed column to view or edit an “In Process” DMP or the current version of a filed DMP.


26

Click the Amend button to put the DMP in edit mode.


27

If you edit a previously filed DMP, it will create a new version and the prior version will move to the Prior Filing(s) Column.


28

NFA staff will have the ability to archive DMPs, for example, duplicate DMPs filed for the same matter and/or DMPs filed for matters NFA deemed to be non-disclosable or no longer disclosable.

INDIVIDUAL APPLICATION (FORM 8-R) CHANGES

Disciplinary Information Criminal Disclosure Questions: Minor Revisions to Form 8-R

Current VersionQuestion C(1) Are you personally

OR(2) is any entity of which you were a Principal at the time the activities occurreda party to any action, or is there a charge pending, the resolution of which could result in a "Yes" answer to the above questions?

New Version

Disciplinary Information Regulatory Disclosure Questions: Minor Revisions to Form 8-R

Current VersionQuestion D

In any case brought by a U.S. or non-U.S. governmental body (other than the CFTC),(1) have you personally

OR(2) has any entity of which you were a Principal at the time the activities occurredever been permanently or temporarily enjoined after a hearing or default or as the result of a settlement, consent decree or other agreement, from engaging in or continuing any activity involving:

• any transaction in or advice concerning futures, options, leverage transactions or securities; or • embezzlement, theft, extortion, fraud, fraudulent conversion, forgery, counterfeiting, false pretenses, bribery, gambling, racketeering or

misappropriation of funds, securities or property?

New Version

Disciplinary Information Regulatory Disclosure Questions: Minor Revisions to Form 8-R

Question I

(1) Are you personallyOR

(2) is any entity of which you were a Principal at the time the activities occurreda party to any action, or is there a charge pending, the resolution of which could result in a "Yes" answer to the above questions?

Current Version

New Version

Disciplinary Information Employment Disclosure Questions: Minor Revisions to Form 8-R

Current VersionQuestion L

Have you ever been discharged or permitted to resign for cause as a result of allegations of:

• embezzlement, theft, extortion, fraud, fraudulent conversion, forgery, counterfeiting, false pretenses, bribery, gambling, racketeering or misappropriation of funds, securities or property; or

• failure to supervise another person in the conduct of such person's activities as a registrant of the CFTC, SEC, NFA, FINRA or other U.S. or non-U.S. self-regulatory organization?

New Version

Summary Screen

34

Added FBI Privacy Act Statements to the summary screen.

UPCOMING INITIATIVES

Upcoming Initiatives

36

Security Manager Password Reset ProcessAll firm users will be able to reset their passwords at any time on the Log In screen. An email will be sent to the user using the address NFA has on file. This email will contain a link to the Reset Password page. Security Managers are encouraged to review their firm's listing of user email addresses.

View/Amend Registration InformationMost of the stand-alone view and update screens for both firms and individuals have been combined into one location.

Swaps Proficiency Requirements• web based learning program that will consist of individual modules covering specific topic areas each

containing a training and testing component.• swaps proficiency requirement will have two tracks; a long track (which will consist of 8 modules) and a

short track (which will consist of 4 modules).• required for individuals that are swap APs of an FCM, IB, CPO and/or CTA and individuals acting as an AP

at a swap dealer.• effective early 2020 with a one year compliance date.

Questions?

37

If you have questions or would like more information, please contact NFA.

Patrick Alfich Chris Brettman312-781-1216 312-781-1451

[email protected] [email protected]

Yvette Christman

[email protected]

mailto:[email protected]



ors enhancements · if you have questions or would like more information, please contact nfa....

Documents