National Futures Association
In the United States, the National Futures Association oversees activities of the commodities and the futures market. The National Futures Association regulates and prevents fraudulent trading activities. It is founded in 1982 by the Commodity Futures Trading Association. The NFA has a membership commitee that consists of 11 individuals and a Business conduct committee made up of 9 members. The membership committee reviews proposals made by the President of the NFA about the inclusion of aspiring members of the NFA. The business conduct committee manages investigative reports and also manages audit reviews. The officials in the Business conduct committee serves a term of three years.