NFA Bylaw 306
BYLAW 306. FOREX DEALER MEMBERS.
(a) Except as provided in section (b), Members of NFA are Forex Dealer Members if they are the counterparty or offer to be the counterparty to forex transactions (as defined in Bylaw 1507(b)).
(b) The following Members are not Forex Dealer Members:
(i) Entities described in subsection (I) and subsections (IV) through (VI) of Section 2(c)(2)(B)(ii) of the [Commodity Exchange] Act;
(ii) Entities described in subsection (II) of Section 2(c)(2)(B)(ii) of the Act that are members of another futures association registered under Section 17 of the Act or of a national securities association registered under Section 15A(b) of the Securities Exchange Act of 1934; and
(iii) Entities described in subsection (III) of Section 2(c)(2)(B)(ii) of the Act based on their affiliation with an entity described in subsection (II) of Section 2(c)(2)(B)(ii) of the Act that is a member of another futures association registered under Section 17 of the Act or of a national securities association registered under Section 15A(b) of the Securities Exchange Act of 1934.
[Adopted effective June 28, 2002. Effective dates of amendments: December 1, 2003; June 13, 2005; and February 13, 2007.]
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