The CFTC’s OCR Final Rule, published on November 18, 2013,
(http://www.cftc.gov/Forms/OCR/index.htm) expanded Ownership and Control Reporting and introduced automation of the reporting process. The FIA Tech OCR Data Service was
developed as an industry solution in response to the CFTC’s expanded reporting
requirements. Use of the FIA Tech OCR Data Service is free of charge to Clients.
Register for a User Account
1. Click the Register link or button on the FIA Tech Login page at myapps.fia-tech.com.
2. Complete the form and click the Register button to submit
3. Check your email for a confirmation message with a link that will take you back to the Login page.
4. Log in with your User Name or Email Address and the Password that you established when registering
Accept Terms & Conditions and DPA
1. After you log in, you will be prompted to agree to the Terms & Conditions and the DPA for the OCR Application.
2. After you accept the Terms & Conditions and DPA, you will be directed to the the OCR Portal, where you can enter and manage owner and controller information in Profiles. You will be able to permit specific Reporting Firms to use your Profiles for their compliance reporting.
3. Click on Create in the Profiles menu to begin creating your Profiles.
Create an OCR profile representing an account Owner
1. On the Create a New Profile screen, select Legal Entity if the Owner of the futures or swaps account is a firm or organization. Select Natural Person if the Account Owner is an Individual.
2. Provide information about the Account Owner in the fields indicated on the form you have selected.
Add Main Contact or Employer
Enter Main Contact Information or Employer Information for the Owner. This information will be stored in a linked Profile for the contact or entity.
Note: Certain Main Contact and Employer information may be auto filled by the system based on the owner information you have entered.
Be sure to review any auto filled data to ensure that it is correct.
Add Beneficial Owner CFTC 19-17 Contact
The Beneficial Owner CFTC 19-17 Contact addresses the requirement of CFTC Letter 19-17 (the “Letter”) which mandates that US FCMs that support separate account margining obtain and maintain current contact information for an authorized representative of the beneficial owner of each separately margined clearing account at the US FCM. CFTC oral guidance is that designation of a representative at the asset manager is not permissible, and that the designated Beneficial Owner CFTC 19-17 Contact should be a natural person at or within the structure of the Beneficial Owner, with sufficient authority to receive and address an FCM’s notice that an account of the Beneficial Owner has failed to timely pay margin.
To add a Natural Person profile as the Beneficial Owner CFTC 19-17 Contact just click Edit and then click Choose Existing to use one of your already existing Natural Person profiles or click Create New to create a new Natural Person profile to fill this role.
Set Reporting Firm Permissions
1. Grant Permission to Reporting Firms to use your Profiles by placing check marks in the appropriate boxes. FCM’s, Swap Dealers, and other Reporting Firms will tag the profile info you create to form 102 submissions to the CFTC and exchanges.
Only those Reporting Firms to which you grant Permission can see your Profiles.
Reporting Firms cannot see information about Permissions granted to any other firm.
2. Click on the Create Profile button to save your Profile.
Create Controller profile
You can also add a Controller profile later:
Controller Permissions - New Profile
Controller Permissions - Existing Profile
Verify Controlled Accounts
Profile Creation Guidelines
Profile Check List
- After setting up your profiles they should read as valid
- The profile should not have any validation warnings
- The appropriate reporting entities should be permissioned
- The owner profile should have a profile designated as the account controller
Available in PDF: