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
|
|
INTERNATIONAL COMMODITIES CORP CHICAGO
CASE OUTCOME: PERMANENT WITHDRAWAL FROM NFA MEMBERSHIP
NFA ID:
0184691
Complaint:
ON MAY 3, 1989, THE CENTRAL REGIONAL BUSINESS CONDUCT COMMITTEE ("CENTRAL COMMITTEE") BROUGHT A COMPLAINT AGAINST INTER- NATIONAL COMMODITIES CORP. OF CHICAGO ("ICCC") ALLEGING THAT ICCC VIOLATED NFA COMPLIANCE RULES 2-29(B)(1) AND (B)(2) BY USING PROMOTIONAL MATERIAL WHICH IS LIKELY TO DECEIVE AND WHICH IS MATERIALLY MISLEADING; VIOLATED NFA COMPLIANCE RULES 2-29(B)(3) AND (B)(5) BY USING PROMOTIONAL MATERIAL WHICH REFERS TO THE POSSIBILITY OF PROFIT WITHOUT BEING ACCOMPANIED BY AN EQUALLY PROMINENT STATEMENT OF THE RISK OF LOSS. THE COMPLAINT ALLEGES FURTHER THAT ICCC VIOLATED NFA COMPLIANCE RULE 2-29(D) BY FAILING TO ADEQUATELY ENFORCE WRITTEN PROCEDURES TO SUPERVISE ITS ASSOCIATES AND EMPLOYEES BY FAILING TO HAVE WRITTEN PROCEDURES FOR THE USE OF PROMOTIONAL MATERIAL. Decision:
ON NOVEMBER 30, 1989, THE CENTRAL COMMITTEE ISSUED A DECISION IN WHICH IT ACCEPTED ICCC'S SETTLEMENT OFFER AND DIRECTED ICCC TO PERMANENTLY WITHDRAW FROM NFA MEMBERSHIP.
Source: National Futures Association
Visit:
|