CFTC Form 1-FR-IB Instructions - National Futures Association

PUBLIC REPORTING BURDEN
Public reporting burden for this collection of information is
estimated to average 1.75 hours per response, including the time for
reviewing instructions, searching existing data sources, gathering and
maintaining the data needed, and completing and reviewing the
collection of information. Send comments regarding this burden
estimate or any other aspect of this collection of information,
including suggestions for reducing this, to Agency Clearance Officer,
Office of Administrative Services, Commodity Futures Trading
Commission, 2033 K St. NW, Washington D.C. 20581; and to the Office of
Information and Regulatory Affairs, Office of Management and Budget,
(Paperwork Project Number 3038-0024), Washington, D.C. 20503.
INTRODUCTION
The Commodity Futures Trading Commission ("Commission") has
prepared these instructions to help introducing brokers ("IB")
complete Part A of CFTC Form 1-FR-IB, the form to be used by IBs in
reporting their net capital position under the Commodity Exchange Act
("CEAct").
These instructions do not apply to guaranteed IBs. IBs whose
obligations are guaranteed by a futures commission merchant and who
comply with the requirements of section 1.10(j) of the Commission's
regulations (Requirements for Guarantee Agreement) need not file Part
A of the Form 1-FR-IB. Part B of Form 1-FR-IB is the Guarantee
Agreement to be used by guaranteed IBs.
The Commission has published a separate set of instructions which
contains similar instructions to be followed by futures commission
merchants in completing Form 1-FR-FCM.
A person who is applying for registration as an IB should also
follow these instructions in completing its Form 1-FR-IB. When "IB"
is used in these instructions, the term will also apply to applicants
for registration, unless otherwise specified.
The terms "Form 1-FR-IB" and "financial report" may be used
interchangeably in these instructions.
Where these instructions conflict with previous interpretations
provided by the Commission's staff, the instructions take precedence.
FILING BY IBs WHICH ARE ALSO SECURITIES BROKER/DEALERS
An IB which is also registered with the Securities and Exchange
Commission ("SEC") as a broker or dealer in securities may file a
Financial and Operational Combined Uniform Single Report under the
(7-89/SYS 3)
No. 3038-0024
OMB