The National Futures Association's Proposed Restriction on the Use of Hypothetical Trading Results in Promotional Materials

Résumé

On June 15, 1994, the Commodity Futures Trading Commission (``Commission'') published in the Federal Register a request for public comment on the National Futures Association's (``NFA's'') proposed amendment and Interpretive Notice to its Compliance Rule 2-29. 59 FR 30776 (June 15, 1994). The proposal would establish restrictions on the use of hypothetical trading results in promotional materials. The original comment period expires on July 15, 1994. By letter to the Commission dated July 11, 1994, the Managed Futures Association (``MFA'') requested a thirty-three-day extension of the comment period to August 17, 1994. The MFA indicated that it had been meeting with its members frequently to consider the issues presented by the NFA's proposal. The MFA further indicated that that consultative process was continuing and that it believed that significant responsive comments were being developed. Acting pursuant to the authority delegated by Commission Regulation 140.96(b), the Director of the Division of Trading and Markets (``Division'') has determined that an extension of the period for the request for public comments on NFA's proposal is in the public interest and will assist the C