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
|
|
INVESTMENT SYNDICATION CORPORATION
CASE OUTCOME: PERMANENT WITHDRAWAL FROM NFA MEMBERSHIP
NFA ID:
0086844
Complaint:
ON NOVEMBER 26, 1986, THE CENTRAL REGIONAL BUSINESS CONDUCT COMMITTEE ("CENTRAL COMMITTEE") ISSUED A COMPLAINT AGAINST INVESTMENT SYNDICATION CORPORATION ("ISC"), CHARGING THE FIRM WITH USE OF PROMOTIONAL MATERIAL WHICH PRESENTS AN UNBALANCED VIEW OF PROFIT POTENTIAL IN VIOLATION OF NFA COMPLIANCE RULE 2-29, FAILURE TO SUPERVISE EMPLOYEES PROPERLY IN VIOLATION OF NFA COMPLIANCE RULE 2-9 AND FAILURE TO OBSERVE HIGH STANDARDS OF COMMERCIAL HONOR IN VIOLATION OF NFA COMPLIANCE RULE 2-4. NATHAN SHENFIELD IS ALLEGED TO BE THE CAUSE OF THE NFA COMPLIANCE RULE 2-4 VIOLATION. IN ADDITION THE FIRM WAS CHARGED WITH FAILING TO COOPERATE PROMPTLY WITH AN NFA INVESTIGATION, FAILURE TO MAINTAIN ADEQUATE BOOKS AND RECORDS, THE USE OF UNREGISTERED ASSOCIATED PERSONS, AND FAILURE TO MAINTAIN MINIMUM ADJUSTED NET CAPITAL. Decision:
ON OCTOBER 7, 1987, THE CENTRAL COMMITTEE ACCEPTED ISC'S OFFER OF SETTLEMENT AND ISSUED A DECISION WHICH BECAME EFFECTIVE ON OCTOBER 19, 1987. THE DECISION DIRECTED ISC TO PERMANENTLY WITHDRAW FROM NFA MEMBERSHIP AND BE FOREVER BARRED FROM OBTAINING MEMBERSHIP IN NFA. THE DECISION FURTHER DIRECTED NATHAN SHENFIELD, PRESIDENT OF ISC, TO WITHDRAW FROM ASSOCIATE MEMBERSHIP IN NFA, AND NOT REAPPLY FOR MEMBERSHIP OR ASSOCIATE MEMBERSHIP WITH NFA FOR A PERIOD OF TWO YEARS FROM THE DATE OF THIS DECISION.
Source: National Futures Association
Visit:
|