Initial Ethics e-Course

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Initial Ethics e-Course


Initial ethics training is specifically designed for those who are new to the industry and recently registered with National Futures Association (NFA) and helps firms meet training requirements as mandated by the Commodity Exchange Act and NFA Rule 2-9.  We recommended the online training be completed within the first six-months of hire.

This comprehensive e-course begins with an introduction and discussion on professional ethics from former Justice Sandra Day O'Connor and former U.S. Senator Richard Lugar among others. The program uses cases studies to incorporate several categories of pertinent information including law, regulation, and sound judgment. Topics covered include registrant's obligation to the public; supervisory systems and internal controls, transaction execution; anti-money laundering; misappropriation of funds; proper disclosure; handling of conflicts of interest; marketing and advertising; sales and client education.

A course completion certificate is provided at the end of the training for regulatory and record keeping purposes at required by law.

e-Learning Outcomes

After the e-course the learner will be able to:

  • Know their obligation to ensure just and equitable principles of trade
  • Understand the pertinent rules and regulations of the Commodity Futures Trading Commission (CFTC) and National Futures Association (NFA)
  • Recognize potential red-flags
  • Employ decision making to ethical and cultural dilemmas
  • Appreciate individual accountability and personal responsibility
  • Understand the need to escalate concerns to compliance in a timely and appropriate manner


Who Should take this e-Course?
  • Commodity Pool Operators (CPOs)
  • Commodity Trading Advisors (CTAs)
  • Futures Commission Merchants (FCMs)
  • Introducing Brokers (IBs)
  • Retail Foreign Exchange Dealers (RFEDs)
  • Major Swap Participants (MSPs)
  • Swap Dealers (SDs)


Training Duration: 90-120 minutes

Purchase Options

$75 per person
Volume discounts are available for firms with 10+ participants. To take advantage of our deep discount, please contact the IFM at 202-223-1528, or via e-mail at

You will receive two emails 1) a confirmation of your transaction after you finalize your order, and 2) an email usually with an hour after you place your order with your training login credentials which are different from those used to place an order. Please note web-delivered product orders are fulfilled during normal business hours, Monday to Friday 9 AM to 5 PM Eastern Time, excluding U.S. holidays.