My firm is a registered CPO/CTA and is a Member of NFA. Does the firm have to designate a security futures principal and have its associated persons (APs) take the proficiency training?
CPOs and CTAs are not required to have a designated security futures principal. If the pool or trading program will trade security futures, APs must take the proficiency training before they solicit pool participations or clients or engage in any other security futures activities that require AP registration. Even if the CPO or CTA does not solicit business, however, the person overseeing the firm’s security futures activities should take the training.
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