Investopedia explains 'National Futures Association - NFA'
The NFA began operating in 1982, subsequent to the establishment of the Commodity Futures Trading Commission in 1974; this legislation also authorized the creation of registered futures exchanges, thereby facilitating the creation of a national self-regulatory organization.
In addition to regulation of the U.S. futures market, the NFA's duties and functions include registration, compliance, and arbitration. It combats fraud and abuse in the futures markets through a combination of rigorous registration requirements, stringent compliance rules, strong enforcement authority and real-time market surveillance.
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