National Futures notices the commodities and the future market in United States. As it is a controlling agency, it defends the investors from fake products and future activities. The main aim of National Futures is to maintain the investor confidence by making programs, services and rules that protects the integrity of the market. It also assists in resolving the complaints of the consumer.
It was developed by Commodity Future Trading Commission in the year 1982 under Commodity Act. The legislation consists of a provision that offer the future industry a right to make a future organization. This groupwas believed to regulate the future industry depending on the rules that CFTC has made. In the year 1998, NFA granted an online access to the Background Affiliation Information Center, which offers information on the institutions that are registered with the CFTC. These institutions consist of firms and the individuals that are engaged in future business. There are at present nearly 4,200 member organizations and around 55,000 NFA associates.
The membership committee of NFA is regarded as responsible in reviewing the decisions that the NFA president makes regarding the eligibility for NFA’s membership. This is made of eleven people.
The Business Committee of NFA is made of nine members among who three does not have associationwith the member of NFA. These officials of BBC serve tenure of three years. They also review audit and also analytical reports by the compliance staff of NFA.