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CENTURY TRADING GROUP, INC
CASE OUTCOME: PERMANENT BAR FROM NFA MEMBERSHIP
NFA ID:
0293880
Individuals Involved:
- JEFFREY F BACKOFF
- RALPH RICHARD GUERTIN
- MARTIN SOMMERS
On August 4, 2000, NFA's Business Conduct Committee ("BCC") issued a Complaint to Century Trading Group, Inc. ("Century"), Jeffrey F. Backoff ("Backoff"), Martin Sommers ("Sommers") and Ralph R. Guertin ("Guertin"). The Complaint alleges that Century, Backoff, Sommers and Guertin failed to supervise, in violation of NFA Compliance Rule 2-9 and submitted misleading information to NFA, in violation of NFA Compliance Rule 2-2(f). The Complaint also alleges that Century failed to timely notify NFA of the termination of two associated persons, in violation of NFA Registration Rule 214 and used deceptive promotional material, in violation of NFA Compliance Rules 2-29(b)(1), (2) and (3). Decision:
On August 4, 2000, NFA's BCC issued a Decision accepting Century, Backoff, Sommers and Guertin's settlement offer in which they neither admitted nor denied the allegations of the Complaint. The BCC ordered Century to be permanently barred from NFA membership. The BCC also ordered that Backoff, Sommers and Guertin not apply for NFA membership or Associate membership or act as a principal of an NFA Member for thirty months from the effective date of the Decision. This Decision becomes effective August 21, 2000.
Source: National Futures Association
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