Initial Ethics Training

Course Overview

Initial ethics training is specifically designed for those who are new to the industry and recently registered with National Futures Association (NFA) and helps firms meet training requirements as mandated by the Commodity Exchange Act and NFA Rule 2-9.  

Course duration: 90-120 minutes

Key Takeaways

Upon successful completion of the course, learners will:

• Have a better understanding of their obligation to ensure just and equitable principles of trade.
• Understand the pertinent rules and regulations of the Commodity Futures Trading Commission (CFTC) and National Futures Association (NFA).
• Recognize potential red flags.
• Employ decision-making to ethical and cultural dilemmas.
• Appreciate individual accountability and personal responsibility.
• Understand the need to escalate concerns to compliance in a timely and appropriate manner.

Course Details

This program uses case studies to highlight ethical and regulatory responsibilities, combining law, compliance, and sound judgment. Key topics include:

• Public obligations of registrants
• Supervisory systems and internal controls
• Transaction execution
• Preventing misappropriation of funds
• Proper disclosure
• Managing conflicts of interest
• Ethical marketing and advertising
• Sales practices and client education

Who Should Take this Course?

This ethics training is designed for individuals involved in the futures markets who are responsible for upholding ethical and regulatory standards including:

• Associated Persons (APs) of NFA member firms who solicit or accept orders for futures, options, or swaps (including registered futures professionals required to maintain registration with NFA).

• Principals and Supervisors responsible for overseeing APs and compliance programs.

• Legal, Compliance, Risk, Operations and other Derivatives Professionals whose work affects or involves ethical and regulatory obligations.

To complete the course, learners must pass the final assessment with a score of 80% or higher. Upon successful completion, a training certificate will be available for download.