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GERALD SCHAFFNER
CASE OUTCOME: PERMANENT BAR FROM NFA MEMBERSHIP
NFA ID:
0208572
Complaint:
ON SEPTEMBER 15, 1993, NFA'S WESTERN BUSINESS CONDUCT COMMITTEE ("WESTERN COMMITTEE") ISSUED A COMPLAINT TO GERRY SCHAFFNER ENTERPRISES, INC.("GSE"), GERALD SCHAFFNER D/B/A MBT FUTURES MANAGEMENT ("MBT"), AND GERALD L. SCHAFFNER ("SCHAFFNER"). THE COMPLAINT ALLEGES THAT GSE, MBT AND SCHAFFNER USED PROMOTIONAL MATERIAL WHICH WAS DECEPTIVE AND MISLEADING AND WHICH PRESENTED PAST PERFORMANCE INFORMATION FOR AN UNREPRESENTATIVE ACTUAL ACCOUNT, IN VIOLATION OF NFA COMPLIANCE RULES 2-29(b)(1), (2) AND (6). Decision:
ON JULY 12, 1995, NFA'S BUSINESS CONDUCT COMMITTEE ISSUED A DECISION ACCEPTING GSE, MBT AND SCHAFFNER'S SETTLEMENT OFFER IN WHICH THEY NEITHER ADMITTED NOR DENIED THE ALLEGATIONS CONTAINED IN THE COMPLAINT. THE COMMITTEE ORDERED GSE AND MBT TO BE PERMANENTLY BARRED FROM NFA MEMBERSHIP. THE COMMITTEE ALSO ORDERED SCHAFFNER NOT TO REAPPLY FOR NFA MEMBERSHIP OR ASSOCIATE MEMBERSHIP OR TO ACT AS A PRINCIPAL OF ANY NFA MEMBER FOR A PERIOD OF TWO YEARS. THIS DECISION BECOMES EFFECTIVE JULY 27, 1995.
Source: National Futures Association
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