The FIA Law and Compliance Division has issued an updated version of the FIA Uniform Futures and Options on Futures Risk Disclosures. The disclosures – which are commonly referred to as the "FIA Risk Disclosure Booklet" – are provided as a resource for U.S. Futures Commission Merchants (“FCMs”) that are required to deliver certain disclosures to their futures and options on futures customers under U.S. Commodity Futures Trading Commission (“CFTC”) and U.S. exchange rules. The FIA Risk Disclosure Booklet was last published in 2007.
The updated Risk Disclosure Booklet contains the following disclosures:
- FIA Combined Disclosure Statement
- Cross Trade Consent
- Electronic Trading and Order Routing Systems Disclosure Statement
- Disclosure of Futures Commission Merchant Material Conflicts of Interest
- Direct Order Transmittal Client Disclosure Statement
- Foreign Trader Disclosure Statement
- Notice to Customers: Exchange For Related Positions
FCMs doing business on non-U.S. exchanges may be required to give additional disclosures that are not included in the Booklet. The Booklet also does not contain disclosures that may be required for swaps business.
As an additional resource, FIA makes available disclosures that may be furnished on a voluntary basis or that may be required by a governing regulator or exchange depending on the nature of an FCM’s business and the location of its customers. These additional disclosures may be used, in an FCM’s discretion, to supplement the mandatory disclosures contained in the Booklet for U.S. futures and options on futures business.
- Position Limit and Large Open Position Reporting Requirements for Options and Futures Trading on Hong Kong Exchanges (PDF/Word)
- A Guide to the Structure and Market Terminology of the London Metal Exchange
- Securities Financing Transactions Regulation (“SFTR”) Disclosures
- Disclosures Required to be Provided to Disclosed Singapore Market Participants
***Important: The FIA Disclosure Booklet and the other disclosures are provided as a resource for firms to use as appropriate in their sole discretion. Use of the Booklet as a means to deliver certain disclosures required for U.S. futures and options on futures business is voluntary. Neither the Booklet nor any of the other disclosures is intended to constitute legal or regulatory advice. FIA specifically disclaims any legal responsibility for any errors or omissions and disclaims any liability for any losses or damages incurred through the use of the Booklet or the other disclosures. FIA undertakes no obligations to update the Booklet or other disclosures following the date of publication.