Responding to Commodity Futures Trading Commission rule amendments that rescind registration exemptions for commodity pool operators and commodity trading advisors, the National Futures Association on Monday launched a new education initiative to assist those impacted.

In February, the CFTC issued final rules that rescind the exemption from registration available to CPOs offering certain qualifying pools. CPOs who previously qualified for this exemption have until Dec. 31, 2012 to register.

The NFA, the self-regulatory organization for the U.S. futures industry, plans to provide a variety of new guidance, webinars, workshops and tutorial videos to supplement existing educational resources already available regarding CPO registration and compliance issues. Later this year, NFA also plans to conduct workshops throughout the United States and in London to assist new CPO/CTA registrants with understanding the registration process and fulfilling their new regulatory requirements.

NFA has recently issued “Notices to Members” regarding the effect of the CFTC's new regulations.

One describes exemptive relief that may be available to CPOs and outlines the additional regulatory requirements they will be subject to.

Another, NFA Bylaw 1101, states that NFA Member firms cannot conduct futures-related business with a non-member firm that is required to be registered. With the elimination of exemptions, NFA member firms, such as futures commission merchants and introducing brokers, will have the responsibility to ensure that these previously unregistered CPOs are registered and NFA members by December 31 in order to continue doing business with them.

For more information, visit http://www.nfa.futures.org, or call NFA's Information Center at (800) 621-3570.