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
|
|
CALIBER FINANCIAL GROUP LTD
CASE OUTCOME: PERMANENT WITHDRAWAL FROM NFA MEMBERSHIP
NFA ID:
0002103
Individuals Involved:
RICHARD JAMES HARTY
Complaint:
ON AUGUST 12, 1991, NFA'S EASTERN REGIONAL BUSINESS CONDUCT COMMITTEE ("EASTERN COMMITTEE") ISSUED A COMPLAINT TO CALIBER FINANCIAL GROUP, LTD. ("CALIBER") AND RICHARD JAMES HARTY ("HARTY"). THE COMPLAINT ALLEGED THAT CALIBER FAILED TO DISCLOSE ALL MATERIAL INFORMATION REGARDING THE INVESTMENT OF CERTAIN POOL FUNDS IN VIOLATION OF NFA COMPLIANCE RULE 2-13 AND THAT HARTY IS A CAUSE OF THIS VIOLATION. THE COMPLAINT ALSO ALLEGED THAT CALIBER AND HARTY DECEIVED COMMODITY FUTURES CUSTOMERS IN VIOLATION OF NFA COMPLIANCE RULE 2-29(a)(1). FINALLY, THE COMPLAINT ALLEGED THAT CALIBER AND HARTY FAILED TO OBSERVE HIGH STANDARDS OF COMMERCIAL HONOR AND JUST AND EQUITABLE PRINCIPLES OF TRADE IN VIOLATION OF NFA COMPLIANCE RULE 2-4. Decision:
ON DECEMBER 3, 1991, THE EASTERN COMMITTEE ACCEPTED CALIBER'S AND HARTY'S SETTLEMENT OFFER IN WHICH THEY NEITHER ADMITTED NOR DENIED THE ALLEGATIONS CONTAINED IN THE COMPLAINT. THE DECISION ORDERED CALIBER TO PERMANENTLY WITHDRAW FROM NFA MEMBERSHIP AND FROM COMMODITY FUTURES TRADING COMMISSION REGISTRATION AS A COMMODITY POOL OPERATOR. THE DECISION ALSO ORDERED HARTY TO WITHDRAW FROM NFA ASSOCIATE MEMBERSHIP AND NOT REAPPLY FOR NFA MEMBERSHIP, REGISTRATION AS AN ASSOCIATE OF A NFA MEMBER OR ACT AS A PRINCIPAL OF A NFA MEMBER FOR FIVE YEARS. THE DECISION DICTATES THAT NEITHER THE OFFER OF SETTLEMENT, THE DECISION, NOR THE ALLEGATIONS CONTAINED IN THE COMPLAINT IN THIS MATTER SHALL BE USED AS THE SOLE BASIS TO DENY ANY FUTURE REGISTRATION OF HARTY, PROVIDED THAT HARTY CAN DEMONSTRATE TO NFA THAT CALIBER AND/OR HARTY HAVE SATISFIED ALL OBLIGATIONS TO POOL PARTICIPANTS.
Source: National Futures Association
Visit:
|