National Futures Association Hearing Committee

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NFA's Hearing Committee [1]consists of at least 15 individuals appointed by NFA's board to serve three-year terms.

Mission

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If the NFA Business Conduct Committee has issued a formal Complaint against a Member, the Member has the right to file an answer to the complaint and request a hearing before this Committee. The Hearing Committee determines whether the recommendations of the Business Conduct Committee should be upheld. The committee typically designates a three-person panel to hear each case. If the panel finds that the Member is guilty of the rule violations, it has the authority to recommend a number of sanctions.

Sanctions can include:

  • Expulsion from NFA membership
  • Suspension for a fixed period of time
  • Prohibition from association with another NFA Member
  • Censure or reprimand
  • Fine of up to $250,000 per violation
  • Order to cease and desist


References

  1. ↑ NFA Compliance Procedures. National Futures Association. Retrieved on December 14, 2007.
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