Members of the NIBA --
By the time this NIBA Journal is posted, the election for the IIB and CTA/CPO positions on the NFA Board of Directors will be completed. As a registrant myself, I am expecting our elected representatives to work closely with NFA staff to form an effective Board.
Each of us is entitled to have an NFA Board on which the individuals work as a team in order to develop and implement regulation which makes sense, is cost effective, allows us to run a successful business and offers sufficient protection to our customers and their funds. The NIBA Board of Directors looks forward to working with all NFA staff and representatives to accomplish these goals, regardless of who wins this election.
In December, 2014, membership renewal notices went out to all membership categories. Please renew or join by using the form on the NIBA website or mailing in your check. For IB/CTA/AP membership questions, contact John Jensen, jjensen@hwfi.com. For FCM or exchange membership questions, contact Steve Petillo, petillo@coquest.com or Buck Haworth, buck@borncapital.com. For service provider membership questions, contact Ralph Preston, rpreston@hwfi.com.
Earlier this month the Association submitted two comment letters to the CFTC. With regard to Reg. 1.22 (Residual Interest), we agree with the proposal to eliminate the 2018 automatic change for margin receipt originally mandated in the rule. With regard to Reg. 1.35 (Recording of oral communication), we agree with the proposal to exempt certain CTAs from the regulations and requested, once again, that the Commission reevaluate the current revenue threshold used to exempt certain IBs from the recording requirement.
On February 19, 2015, we will hold our 3rd Annual SoCal Winter Meeting at the Marriott Newport Beach Hotel. The event, which is open to all registrants, includes two business sessions and a networking reception. Program details are posted and registration is open now. Please contact any program chairperson with questions: Ralph, rpreston@hwfi.com; John, jjensen@hwfi.com; or Barb, barbara.schmidt-bailey@cmegroup.com.
Also in February, Buck Haworth will retire as our Treasurer. Buck, the CEO of Born Capital Financial in Chicago, has been a member of the NIBA Board of Directors for seven years and served as Treasurer for the last five. He organized and directed our budget and financial state with care and professionalism. Buck is a good friend to our community and to me -- he will be missed.
Best wishes for a prosperous New Year,