US NFA Enforcement and Regulatory Actions

The National Futures Association (NFA) is the self-regulatory organisation for the US derivatives industry, designated by the Commodity Futures Trading Commission as a "registered futures association" under section 17 of the Commodity Exchange Act. Membership is mandatory for futures commission merchants, introducing brokers, commodity pool operators, commodity trading advisors and their associated persons, and NFA disciplines those members under its own rulebook — separately from, and often without, any parallel federal action by the CFTC.

This dataset covers the concluded actions NFA publishes in its enforcement and regulatory actions listing: decisions in disciplinary cases, final orders in registration cases, and member responsibility actions, which are emergency orders restricting a member's activity while a matter is pending. Each respondent is linked to the case it was named in, the date the action was taken, and the NFA rules, bylaws or CFTC regulations cited against it.

Complaints are excluded. A complaint is the charging document that opens a disciplinary case and states allegations that have not been adjudicated; respondents who were only ever named in a complaint are therefore not in this dataset. Sanctions imposed — fines, bars, suspensions, withdrawals — are published only on the per-case detail pages, which NFA excludes from crawling, so this dataset records that an action was taken but not what it imposed.