Regulatory disclosures

FIA offers template disclosures to assist members in making regulatory disclosures to customers. Use of FIA’s template disclosures is voluntary, and firms are free to modify the disclosures as appropriate based on their legal and business needs. 

FIA Risk Disclosure Booklet

The FIA Uniform Futures and Options on Futures Risk Disclosures – 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”), self-regulatory organization and exchange rules.  

The Risk Disclosure Booklet contains the following disclosures (listed in the order they appear in the Booklet):

• 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
• CFTC Customer Advisory: Understand the Risks of Virtual Currency Trading
• NFA Investor Advisory – Futures on Virtual Currencies Including Bitcoin
• NFA Disclosure for Underlying or Spot Virtual Currencies

FCMs transacting on non-U.S. exchanges may be required to give additional disclosures not included in the Booklet.  The Booklet also does not contain disclosures that may be required for swaps business.

The Booklet is available for download to the right, along with the historical 2007, 2017 and 2018 versions.

Supplementary Disclosures

FIA also makes available template disclosures that may be furnished on a voluntary basis or required by a governing regulator or exchange depending on the nature of an FCM’s business and location of its customers.  These additional disclosures, which are also available for download to the right, may be used, – in an FCM’s discretion, – to supplement the template disclosures contained in the Risk Disclosure Booklet for U.S. futures and options on futures business. 

United States

• FIA Template Disclosures Regarding Separate Accounts
• FIA Negative Contract Prices Risk Disclosure Template
• CFTC Regulation 1.41 Hedge Account Designation Form

European Union and United Kingdom

• EMIR Clearing Member Disclosure Statement
• FIA Disclosures relating to the EU Indirect Clearing RTS
• FIA MiFID II DEA Due Diligence Questionnaire Template (Article 22 of RTS 6)
• Securities Financing Transactions Regulations Information Statement
• A Guide to the Structure and Market Terminology of the London Metal Exchange

Asia-Pacific

• Template Disclosure under Condition 6(f) of New Zealand Exemption Notice for US FCMs
• Position Limit and Large Open Position Reporting Requirements for Options and Futures Trading on Hong Kong Exchanges
• Disclosures Required to be Provided to Disclosed Singapore Market Participants