Commodity Brokers Online - Custom Search
|
Enter Search Keyword(s):
Custom Search for 1,000 + Commodity Webpages. All Sites have been Reviewed and Categorized by
CommodityFuturesSearch.com
|
Commodity Trading Resources
|
|
AMERICAN FIRST FINANCIAL INVESTMENT CORP
CASE OUTCOME: PERMANENT BAR FROM NFA MEMBERSHIP
NFA ID:
0222283
Individuals Involved:
FRED P GRAHAM
Complaint:
ON DECEMBER 5, 1990, THE CENTRAL REGIONAL BUSINESS CONDUCT COMMITTEE ("CENTRAL COMMITTEE") ISSUED A COMPLAINT AGAINST AMERICAN FIRST FINANCIAL INVESTMENT CORPORATION ("AFFIC") AND FRED P. GRAHAM ("GRAHAM"). THE COMPLAINT ALLEGES THAT AFFIC AND GRAHAM VIOLATED NFA COMPLIANCE RULE 2-4 BY FAILING TO OBSERVE HIGH STANDARDS OF COMMERCIAL HONOR AND JUST AND EQUITABLE PRINCIPLES OF TRADE AND VIOLATED NFA COMPLIANCE RULE 2-29(B)(3) BY USING PROMOTIONAL MATERIAL WHICH MENTIONS THE POSSIBILITY OF PROFIT WITHOUT MAKING AN EQUALLY PROMINENT STATEMENT OF THE RISK OF LOSS. Decision:
ON AUGUST 21, 1991, THE CENTRAL COMMITTEE ISSUED A DECISION TO AFFIC AND GRAHAM. THE CENTRAL COMMITTEE ACCEPTED AFFIC'S AND GRAHAM'S SETTLEMENT OFFER IN WHICH THEY DID NOT ADMIT OR DENY ANY OF THE ALLEGATIONS SET FORTH IN THE COMPLAINT. THE CENTRAL COMMITTEE'S DECISION PERMANENTLY BARRED AFFIC FROM NFA MEMBERSHIP AND ORDERED THE FIRM TO REQUEST TO WITHDRAW FROM CFTC REGISTRATION. THE DECISION ALSO BARRED GRAHAM FROM NFA MEMBERSHIP OR ASSOCIATE STATUS OR PRINCIPAL STATUS WITH ANY NFA MEMBER FOR A TWO YEAR PERIOD.
Visit:
|