| NFA to charge a $200 per business day late fee for filing financial statements late |
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| The CFTC has approved NFA Financial Requirements Section 10, which assesses a fee of $200 for each business day that an FCM or independent IB is late in filing a financial statement. Section 10 will apply to all financial statements with "as of" dates of June 30, 2003 or later. As you may be aware, all FCM and IB financial reports, except the certified annual report, must be filed electronically within 17 business days after the date of the report. A hard copy of the certified annual report must be filed no later than 90 days after the firm's fiscal year end. The only exception to these filing deadlines is for registered broker-dealers, who must file their reports within the time required by the SEC. |
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| If your firm is finding difficulty with working with the Windjammer Software or does not possess the necessary resources to meet these financial requirements, please contact CSI immediately to discuss how we can assist your organization. Please use our “Contact Us” webpage and we will contact you with a business solution. | |
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