On January 31, 2021 members with APs are required to have fulfulled the NFA’s Swaps proficiency Requirements. Individuals who do not satisfy the Swaps Proficiency Requirements by the compliance date will be unable to engage in Swaps activities until they have done so.
After January 31, 2021, any individual seeking to engage in swaps activity will need to satisfy NFA’s Swaps Proficiency Requirements prior to being approved as a swap AP .
Accessing NFA’s Swaps Proficiency Requirements
Individuals affiliated with a Member firm who are not already enrolled in the Swaps Proficiency Requirements should contact their firm’s SPR Administrator. For more information on accessing the Swaps Proficiency Requirements, please see NFA’s instructions for using the Swaps Proficiency Requirements System.
NFA’s Swaps Proficiency Requirements must be successfully completed by individuals registered as associated persons (AP) at futures commission merchants, introducing brokers, commodity pool operators and commodity trading advisors who engage in swaps activity subject to the CFTC’s jurisdiction (swap designated APs) as well as individuals acting as APs at swap dealers. The Swaps Proficiency Requirements are available online and must be completed by the Compliance Date of January 31, 2021. Click here for instructions on accessing and completing the Swaps Proficiency Requirements.
If you are an NFA Swaps Proficiency Requirements Administrator, click here.