17 CFR 171.46
§ 171.46 Standards of review.
United States · 17 CFR — Commodity and Securities Exchanges · Status: effective
Cite this
- Citation
- 17 CFR 171.46, § 171.46 Standards of review, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/67802
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Full text
In reviewing the decision of the National Futures Association in a member responsibility action, the Commission shall consider whether:
(a) The proceedings were conducted in a manner consistent with fundamental fairness;
(b) The proceedings were conducted in a manner consistent with the rules of the National Futures Association;
(c) The weight of the evidence supports the findings of the National Futures Association concerning the reasons for the action;
(d) The determination that summary action is necessary to protect the commodity futures markets, customers, or members of the National Futures Association rests on a reasonable interpretation of the NFA rules at issue;
(e) The National Futures Association's application of its rules is consistent with the purposes of the Act;
(f) In light of the findings of the National Futures Association concerning the reasons for the action and the public interest, the suspension, restriction or remedial action imposed by the National Futures Association is not excessive, oppressive or an abuse of discretion.
Legislative history
This is a federal regulation, adopted through agency rulemaking under the Administrative Procedure Act — not enacted by a recorded vote of Congress.