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
|
|
INDEX SERVICES, INC
CASE OUTCOME: EXPELLED FROM MEMBERSHIP
NFA ID:
0000563
Complaint:
ON FEBRUARY 26, 1985, THE EASTERN REGIONAL BUSINESS CONDUCT COMMITTEE ("EASTERN COMMITTEE") ISSUED A COMPLAINT AGAINST INDEX SERVICES INC. ("INDEX") ALLEGING THAT INDEX INTENTIONALLY TRADED CUSTOMER ACCOUNTS IN A MANNER CONTRARY TO THE CUSTOMERS' BEST INTEREST, APPARENTLY VIOLATING NFA COMPLIANCE RULE 2-4. IT WAS FURTHER ALLEGED THAT INDEX MADE MISREPRESENTATIONS TO CUSTOMERS IN VIOLATION OF NFA COMPLIANCE RULE 2-2(a) AND THAT INDEX FAILED TO COOPERATE PROMPTLY AND FULLY WITH NFA IN AN NFA INVESTIGATION IN VIOLATION OF NFA COMPLIANCE RULE 2-5. THOMAS GALGANO, PRESIDENT AND SOLE SHAREHOLDER OF INDEX, WAS ALLEGED TO HAVE BEEN THE CAUSE OF THE ABOVE VIOLATIONS. Decision:
THE ALLEGATIONS IN THE COMPLAINT ARE DEEMED ADMITTED. ON JUNE 13, 1986, THE EASTERN COMMITTEE ISSUED A DECISION IN WHICH IT EXPELLED INDEX FROM NFA MEMBERSHIP. GALGANO WAS FOUND TO HAVE THE CAUSE OF THE EXPULSION.
Source: National Futures Association
Visit:
|