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CERES TRADING GROUP, INC
CASE OUTCOME: FINE (JOINTLY AND SEVERALLY) $75,000
• PERMANENT WITHDRAWAL FROM NFA MEMBERSHIP
NFA ID:
0262793
Individuals Involved:
- ROBERT EVERETT PARKER, JR
- WARREN SCOTT PARKER
ON FEBRUARY 25, 1999, NFA'S BUSINESS CONDUCT COMMITTEE ("COMMITTEE") ISSUED A COMPLAINT TO CERES TRADING GROUP, INC. ("CERES"), WARREN SCOTT PARKER ("SCOTT PARKER") AND ROBERT E. PARKER, JR. ("ROBERT PARKER"). THE COMPLAINT ALLEGES THAT CERES, SCOTT PARKER AND ROBERT PARKER USED DECEPTIVE, MISLEADING AND UNBALANCED PROMOTIONAL MATERIAL, IN VIOLATION OF NFA COMPLIANCE RULES 2-29(b)(1), (2) AND (3). Decision:
On November 12, 1999, a designated Panel of NFA's Hearing Committee issued a Decision accepting Ceres, Scott Parker and Robert Parker's settlement offer in which they neither admitted nor denied the allegations of the Complaint. The Panel ordered Ceres, Scott Parker and Robert Parker to pay a $75,000 fine over a ten-month period, for which they will be jointly and severally liable. The Panel also ordered Ceres to withdraw from NFA membership and not reapply for NFA membership. Finally, the Panel ordered Scott Parker and Robert Parker to submit to NFA all promotional material of any firm of which either Scott Parker or Robert Parker is a principal for a period of one year from the date of the Decision. This Decision becomes effective November 29, 1999.
Source: National Futures Association
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