Series 3 expiring 1.5 months, How to re-register again w/NFA

Discussion in 'Professional Trading' started by PhiSigmaIota, Jun 14, 2005.

  1. I do not want to lose this license and my current firm is not a NFA member. I would like to pay the cost/ associated fees with the NFA registration. Can someone assist me registering as an a Associated Person(AP) again or should I go and register as a CTA or IB.
    If that is the is the case what is quickest procedure(documentationwise) to register as CTA?
    When you are a CTA, I know NFA audits you every year, but as there will be no CTA business, will there be a problem or can I hold this license as long as I pay my dues?
    I do not know the IB end so may be that is another way to go...
    Probably the ideal way is to register as AP in case I get a sponsor, if not can you please advise...
    Thanks for your assistance in advance
    Note: I am planning to establish a hedge fund in the next 6 mos.
    I have been a trader for 9 years..traded almost every instrument..
  2. ktm


    Call the NFA. They are very helpful.
  3. Do you really think NFA will help me when I tell them that I do not want my license to expire and ask them what I should do?
    Frankly I doubt it..
  4. JayS


    They might, wouldn't hurt to call. I've found them always to be very helpful and almost never a wait to talk to anyone.
  5. ktm


    I have dealt with the NFA for years and they have always been outstanding in terms of responsiveness. Their interaction with me and most others I have spoken to has always been friendly and never in a way that is typical of a regulatory authority.

    It sounds like you are down to two choices; getting the answer from the one place that has all the answers or getting ideas from an internet message board. I hope your thinking clears up before starting your hedge fund.

    Good Luck.
  6. How's the NFA when dealing with arbitration issues. I filed a complaint a few months ago and was told that violations did occur and that I should file arbitration against the broker.
  7. ktm


    Fortunately, I don't have any experience with arbitration. Were you filing directly with the broker?
  8. No, I was going to file with the NFA's arbitration program. I had the broker do some oil trades for me, and I have an email from him stating that a stop was in. Price went through it and the stop magically disappeared, and all the broker basically said was "sorry for the miscommunication."
  9. Pay the hundred dollars or so to the NFA to license you with the CFTC, but do not register with the NFA...(warning: do not solicit customers in their regulated Industries)

    If you want to be a CTA pay the thousand and make some disclosure doc's. (you are not necessarily guaranteed an annual audit)

    NFA Phone # is (800) 621-3570.

    I know what I am talking about...

    Michael B.

  10. How do I register w/couple hundred bucks to CFTC ? Will I just tell them that I would like to keep my license? How does that work out? What will be my registration title AP or IB or no title at all?
    I really do not care as I just want to keep my license on good standing..
    #10     Jul 2, 2005