InstructorKate Chatterson
TypeOnline Course
PriceFree
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Tuition Options

myUniversity™

PracticeEdge Elite™ Not included

Standard Tuition $400

Senior Fellow Patricia Cushing, CPA, Director, Compliance, National Futures Association

This Course provides an overview of the regulatory structure of the U.S. futures industry as it relates to commodity pool operators (CPOs) and commodity trading advisors (CTAs) – the futures professionals that operate a fund or advise clients trading futures contracts, commodity options, swaps or retail off-exchange foreign currency futures contracts. This Course provides background on the government regulator, the Commodity Futures Trading Commission (CFTC), and the industry self regulatory organization, National Futures Association (NFA), with a focus on NFA’s functions, governance and rulemaking process.

This Course also introduces the key regulations that impact CPOs and CTAs. It delves into the information to be provided to customers through the required Disclosure Document and the basic and alternative methods for calculating the performance of the commodity pool or trading program. It explores the controls and procedures required to adequately supervise the firm’s operations including the use of NFA’s self-examination questionnaire. It examines the restrictions surrounding the use of promotional material including the limitations on hypothetical performance results and proprietary performance.

Additionally, this Course also outlines the books and records required to demonstrate a pool’s financial condition and support the financial reporting provided to pool participants through monthly, quarterly and annual account statements and reports. The session concludes with a preview of the NFA examination and disciplinary process.

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LEARNING OBJECTIVES

FACULTY

CREDIT INFO

ACCREDITATION

Students shall learn the following within this Course:

  • Identify who is required to register as a CPO or CTA;
  • Understand what exemptions from registration are provided;
  • Understand the books and records requirements for CPOs and CTAs;
  • Recognize how mandatory NFA membership is implemented; and
  • Understand the NFA examination and disciplinary process.

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Senior Fellow:

Patricia Cushing, CPA, Director, Compliance, National Futures Association
Daniel Driscoll, CPA, EVP & COO, National Futures Association
Thomas Sexton, JD, SVP & GC, National Futures Association
Regina Thoele, SVP, Compliance, National Futures Association

 

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Accreditation Information

CLE Information

Credit Hours: 4
Subject Area: Professional Practice
States: Contact Curriculum Advisor For More Information

CPE Information

Credit Hours: 6.5
Subject Area: Accounting
States: Contact Curriculum Advisor For More Information

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Alabama: Approval of all web based programs is limited to a maximum of 6.0 credits.

Arizona: Does not approve or accredit CLE activities for the Mandatory Continuing Legal Education requirement. RCA programs may qualify for credit based on the requirements outlined in the MCLE Regulations and Ariz. R. Sup. Ct. Rule 45.

Iowa: The approval is for one year from recorded date. Does not approve of Audio-only On-Demand Webcasts.

Missouri: On-demand web programs are restricted to six hours of self-study credit per year. Self-study may not be used to satisfy the ethics requirements. Self-study can not be used for carryover credit.

New Hamphsire: The approval is for three years from recorded date.

New Mexico: On-Demand web programs are restricted to 4.0 self-study credits per year.

New York: Newly admitted attorneys may not take non-traditional course formats such as on-demand Web Programs or live Webcasts for CLE credit. Newly admitted attorneys not practicing law in the United States, however, may earn 12 transitional credits in non-traditional formats.

North Carolina: A maximum of 4 credits per reporting period may be earned by participating in on-demand web programs.

Ohio: To confirm that the web program has been approved, please refer to the list of Ohio’s Approved Self Study Activities at http://www.sconet.state.oh.us. Online programs are considered self-study. Ohio attorneys have a 6 credit self-study limit per compliance period. The Ohio CLE Board states that attorneys must have a 100% success rate in clicking on timestamps to receive ANY CLE credit for an online program.

Oklahoma: Up to 6 credits may be earned each year through computer-based or technology-based legal education programs.

Pennsylvania: PA attorneys may only receive a maximum of four (4) hours of distance learning credit per compliance period. All distance learning programs must be a minimum of 1 full hour.

Rhode Island: Audio Only On-Demand Web Programs are not approved for credit. On-Demand Web Programs must have an audio and video component.

Tennessee: The approval is for the calendar year in which the live program was presented.

Virginia: All distance learning courses are to be done in an educational setting, free from distractions.

Wisconsin: Ethics credit is not allowed. The ethics portion of the program will be approved for general credit. There is a 10 credit limit for on-demand web programs during every 2-year reporting period. Does not approve of Audio-only On-Demand Webcasts.

Iowa, Mississippi, Oklahoma, and Wisconsin DO NOT approve Audio Only On-Demand Web Programs.

If you have already received credit for attending some or the entire program, please be aware that state administrators do not permit you to accrue additional credit for repeat viewing even if an additional credit certificate is subsequently issued.

If applicable, the RCA will apply for credit in your state upon request.