[Code of Federal Regulations] [Title 17, Volume 1] [Revised as of April 1, 2006] From the U.S. Government Printing Office via GPO Access [CITE: 17CFR171.1] [Page 596-597] TITLE 17--COMMODITY AND SECURITIES EXCHANGES CHAPTER I--COMMODITY FUTURES TRADING COMMISSION PART 171_RULES RELATING TO REVIEW OF NATIONAL FUTURES ASSOCIATION DECISIONS IN DISCIPLINARY, MEMBERSHIP DENIAL, REGISTRATION AND MEMBER RESPONSIBILITY ACTIONS--Table of Contents Subpart A_General Provisions Sec. 171.1 Scope of rules. Subpart A_General Provisions Sec. 171.1 Scope of rules. 171.2 Definitions. 171.3 Business address; hours. 171.4 Computation of time. 171.5 Extension of time. 171.6 Ex parte communications. 171.7 [Reserved] 171.8 Filing with the Proceedings Clerk. 171.9 Service. 171.10 Motions. 171.11 Sanctions. 171.12 Settlement. 171.13 Practice before the Commission. 171.14 Waiver of rules. Subpart B_Notice and Effective Date of Final Decisions in Disciplinary, Membership Denial and Registration Actions 171.20 [Reserved] 171.21 Notice of final decision. 171.22 Effective date of final decisions in disciplinary, membership denial and registration actions. 171.23 Notice of appeal. 171.24 Submission of the record. 171.25 Appeal brief. 171.26 Answering brief. 171.27 Limited participation by interested persons. 171.28 Participation by Commission staff. Subpart C_Commission Review of Final Decisions in Disciplinary, Membership Denial and Registration Actions 171.30 Scope of review. 171.31 Commission review in the absence of an appeal. 171.32 Oral argument. 171.33 Final decision by the Commission. 171.34 Standards of review. Subpart D_Commission Review of Decisions by the National Futures Association In Member Responsibility Actions 171.40 Notice of the commencement of a member responsibility action. 171.41 Petition for a stay of effective date of a member responsibility action pending a hearing by the National Futures Association. 171.42 Notice of a final decision of the National Futures Association in a member responsibility action. 171.43 Petition for a stay of the effective date of a final decision of the National Futures Association in a member responsibility action. 171.44 Notice of appeal. 171.45 General procedures. 171.46 Standards of review. Subpart E_Delegation of Functions 171.50 Delegation to the General Counsel. Authority: 7 U.S.C. 4a, 12a and 21, unless otherwise noted. Source: 55 FR 41068, Oct. 9, 1990, unless otherwise noted. (a) Matters included. Unless specifically excluded by subsection (b), this [[Page 597]] part governs review by the Commission, pursuant to sections 17(h), (i) and (o) of the Commodity Exchange Act (``Act''), as amended, of any disciplinary action, membership denial action, registration action or member responsibility action taken by the National Futures Association or any registered futures association. Unless specifically indicated, references in this part to the National Futures Association shall also include any other registered futures association. (b) Matters excluded. The Commission will not review under these rules the following decisions by the National Futures Association: (1) A decision in a disciplinary action if the party aggrieved by the decision knowingly failed to pursue the right to appeal an adverse decision to the Appeals Committee of the National Futures Association and there are no extraordinary circumstances that otherwise warrant Commission consideration of the aggrieved party's appeal; (2) A decision in an arbitration action brought pursuant to section 17(b)(10) of the Act or any rule of the National Futures Association; (3) Suspension of a member based solely on that member's failure to pay National Futures Association dues; (4) A decision to disqualify any member for service on the National Futures Association Board of Directors, Business Conduct Committees, Hearing Committee or arbitration panels pursuant to the standards for service adopted by the National Futures Association to implement Commission rule 1.63; (5) Suspension of a member or a person associated with a member based solely on that person's failure to pay an arbitration award or a settlement agreement resulting from an arbitration action brought pursuant to section 17(b)(10) of the Act or rules and regulations of the National Futures Association, or a settlement agreement resulting from a mediation proceeding sponsored by the National Futures Association, unless there are extraordinary circumstances that involve something more than the ministerial application of a predetermined sanction, or raise a colorable claim that the National Futures Assocaition has acted arbitrarily. (c) Appeals from excluded decisions. If the Deputy General Counsel for Opinions or his delegee determines that a notice of appeal submitted to the Commission is from a decision that is excluded from review under this part, he may strike it and order it returned to the aggrieved party who submitted it. (d) Applicability of these part 171 rules. Unless otherwise ordered, these rules will apply in their entirety to all appeals and matters relating thereto filed on or after October 31, 1990. Any part 171 proceeding commenced prior to October 31, 1990 continues to be governed by the procedures established in former subpart F of part 3 of the Commission's regulations, if applicable, or by the procedures established for that proceeding by Commission order. Parties to any proceeding pending on October 31, 1990 may, within 30 days after October 31, 1990 by written stipulation executed by all parties, and filed with the Proceedings Clerk before the Commission's final decision is rendered, elect to have the matter governed by the provisions of these part 171 rules. [55 FR 41068, Oct. 9, 1990, as amended at 70 FR 2352, Jan. 13, 2005]