A swap dealer or major swap participant must notify National Futures Association, the futures industry self-regulatory organization, of personnel changes involving their chief compliance officer (CCO), NFA said in Notice I-14-17 on Tuesday. CFTC Regulation 3.3 requires each firm to designate an individual to serve as its CCO. Following the CCO's departure, due to resignation or replacement, the firm must designate a new CCO and submit a Form 8-R, including fingerprint cards and the principal application fee, identifying the new CCO as a principal of the firm, NFA said. The firm should also update the compliance contact in NFA's online registration system, NFA added. If the former CCO is no longer acting in the capacity of a principal in accordance with CFTC Regulation 3.1(a), the firm must submit a Form 8-T terminating the former CCO as a principal of the firm within 30 days of the CCO's departure, NFA said. As a provisionally registered swap dealer or major swap participant,
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