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
|
|
DIVERSIFIED TRADING SYSTEMS, INC
CASE OUTCOME: EXPELLED FROM NFA MEMBERSHIP
NFA ID:
0219677
Overview
ON MAY 6, 1992, NFA'S PRESIDENT WITH THE CONCURRENCE OF NFA'S EXECUTIVE COMMITTEE, ISSUED A MEMBER RESPONSIBILITY ACTION ("MRA") TO DIVERSIFIED TRADING SYSTEMS, INC. ("DTS"). THE MRA PROHIBITS DTS FROM USING ANY PROMOTIONAL MATERIAL UNLESS AND UNTIL SUCH MATERIAL HAS BEEN SUBMITTED TO AND APPROVED BY NFA'S COMPLIANCE DEPARTMENT. THIS MRA, EFFECTIVE SEVEN DAYS FROM THE DATE OF ISSUANCE, IS DEEMED NECESSARY TO PROTECT THE COMMODITY FUTURES MARKETS, CUSTOMERS OR OTHER NFA MEMBERS BECAUSE NFA HAS REASON TO BELIEVE THAT DTS HAS VIOLATED NFA COMPLIANCE RULES 2-2(a), 2-29(a)(1), 2-29(b)(1), 2-29(b)(2), 2-29(f) AND 2-2(f) THROUGH ITS USE OF MISLEADING AND DECEPTIVE ADVERTISING. DTS IS ENTITLED TO A PROMPT HEARING BEFORE THE CENTRAL REGIONAL BUSINESS CONDUCT COMMITTEE ("CENTRAL COMMITTEE"). ALSO, THIS MRA SHALL REMAIN IN EFFECT DURING THE PENDENCY OF THE COMPLAINT CAPTIONED, IN THE MATTER OF DIVERSIFIED TRADING SYSTEMS, INC., ET AL., NFA CASE NO. 92-BCC-014, WHICH WAS ISSUED BY NFA'S CENTRAL COMMITTEE. HEARING REQUEST ON MAY 26, 1992, DTS REQUESTED AN IMMEDIATE HEARING BEFORE THE CENTRAL COMMITTEE. A HEARING WAS SCHEDULED FOR JUNE 2, 1992. HOWEVER, DTS REQUESTED A CONTINUANCE OF THE HEARING DATE. THE CENTRAL COMMITTEE GRANTED DTS'S CONTINUANCE REQUEST. NOTICE OF TERMINATION OF MRA AS OF MAY 16, 1994, DTS HAS BEEN THE SUBJECT OF A DISCIPLINARY ACTION INITIATED BY NFA'S CENTRAL REGIONAL BUSINESS CONDUCT COMMITTEE ("CENTRAL COMMITTEE") IN WHICH THE CENTRAL COMMITTEE, AMONG OTHER SANCTIONS, EXPELLED DTS FROM NFA MEMBERSHIP. AS A CONSEQUENCE, DTS IS PROHIBITED FROM CONDUCTING ANY COMMODITY FUTURES BUSINESS AND THE RESTRICTIONS IMPOSED BY THE MRA ARE NO LONGER NECESSARY TO PROTECT THE COMMODITY FUTURES MARKETS, CUSTOMERS OR OTHER NFA MEMBERS. THEREFORE, EFFECTIVE MAY 16, 1994, THE MRA IS TERMINATED. Decision:
Source: National Futures Association
Visit:
|