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CORPORATE COMMODITIES, INC
CASE OUTCOME: PERMANENT BAR FROM NFA MEMBERSHIP
NFA ID:
0357348
Complaint:
On August 29, 2006, NFA issued a Complaint charging Protrade, CCI, Bass, Leon, Goldberg and Matthews with making deceptive and misleading sales solicitations. The Complaint also charged Protrade, CCI, Leon, Goldberg and Matthews with using a high-pressure approach. Finally, the Complaint charged Protrade, CCI, Mote and Matthews with failing to diligently supervise employees and agents in the conduct of their commodity futures activities. Decision:
On February 8, 2007, Protrade and CCI were permanently barred from NFA membership and from acting as a principal of an NFA Member. Mote was suspended from NFA membership or NFA associate membership for one year. During the period of suspension, Mote may not act in any capacity requiring registration, nor act as a principal of an NFA Member. Should Mote, after expiration of the one-year suspension, again become an NFA Member or Associate, or become a principal of an NFA Member, she was ordered to pay a $5,000 fine, due and payable thirty days after she is granted NFA membership or associate membership or becomes a principal of an NFA Member. Should Mote, after expiration of the one-year suspension, become a principal of an NFA member, she must cause all APs of that firm - and any other firm of which he is a principal - to tape record, for one year, all conversations that occur between them and existing or potential customers; retain the tapes for one year from the date they are created; and make the tapes availabe to NFA. The one-year taping requirement applies to each and every firm of which Mote becomes a principal and begins on the date that she becomes a principal of each firm, respectively. Only periods of time when Mote is a principal of that particular firm and that firm is actively soliciting customers will be counted.
Source: National Futures Association
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