17 CFR Part 156 — Broker Associations

PART 156—BROKER ASSOCIATIONS Authority: 7 U.S.C. 6b, 6c, 6j(d), 7a(b), and 12a. Source: 58 FR 31171, June 1, 1993, unless otherwise noted. § 156.1 Definition. For the purposes of this part, the term broker association § 156.2 Registration of broker association. (a) Registration required. (b) Contract market rules required. (i) Name; (ii) Form of organization, e.g., partnership, corporation, trust, etc.; (iii) Name of each person who is a member or otherwise has a direct beneficial interest in the association; (iv) Badge symbols and numbers for all members; (v) Account numbers for all accounts of any member, accounts in which any member(s) has an interest, and any proprietary or customer accounts controlled by any member(s); (vi) Identification of all other broker associations with which each member is associated; and (vii) Individual(s) authorized to represent the association in connection with its registration obligations. Any registration information provided to the contract market which becomes deficient or inaccurate must be updated or corrected promptly. (c) Other contract market rules. (2) Each contract market may adopt rules, which must be submitted to the Commission pursuant to section 5a(a)(12)(A) of the Act and Commission Regulation 1.41, which set forth the basis and procedures for granting exemptions from the registration requirement contained in paragraph (b) of this section for de minimis activity. § 156.3 Contract market program for enforcement. A contract market must, as part of its responsibilities pursuant to the Act and § 1.51, demonstrate effective use of broker association registration information to monitor the trading activity of broker associations and their members for potential abuse and to secure compliance with all other contract market bylaws, rules, regulations and resolutions which may pertain to such associations or their members. § 156.4 Disclosure of Broker Association Membership. Each contract market shall make available to the public generally and upon request a list of all registered broker associations which identifies for each such association the name of each person who is a member or otherwise has a direct beneficial interest in the association. This list shall be updated at least semi-annually. [61 FR 41498, Aug. 9, 1996]

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