C.F.R. » Title 17 » CHAPTER I—COMMODITY FUTURES TRADING COMMISSION › PART 170—REGISTERED FUTURES ASSOCIATIONS › Subpart A—Standards Governing Commission Review of Applications for Registration as a Futures Association Under Section 17 of the Act

17 C.F.R. § 170.6

Disciplinary proceedings (sections 17(b)(8) and (b)(9) of the Act)

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A futures association must provide a fair and orderly procedure with respect to disciplinary actions brought against association members or persons associated with members. These rules governing such disciplinary actions shall contain, at a minimum, the procedural safeguards contained in section 17(b)(9) of the Act. In addition, an association, in disciplining its members should demonstrate that it will:

(a) Take vigorous action against those who engage in activities in violation of association rules;

(b) Conduct proceedings in a manner consistent with the fundamental elements of due process; and

(c) Impose discipline which is fair and has a reasonable basis in fact.

(Approved by the Office of Management and Budget under control number 3038-0022) [44 FR 20651, Apr. 6, 1979, as amended at 46 FR 63036, Dec. 30, 1981]
Notes of Decisions
Cited in 1 case, 2019–2019 · leading case: Effex Capital, LLC v. Nat'l Futures Ass'n, 933 F.3d 882 (7th Cir. 2019).
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Effex Capital, LLC v. Nat'l Futures Ass'n, 933 F.3d 882 (7th Cir. 2019). “; see also 17 C.F.R. § 170.6 (b) (requiring the SRO to "[c]onduct proceedings in a manner consistent with the fundamental elements of due process").”
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