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SHUN PUN LIMITED
CASE OUTCOME: PERMANENT BAR FROM NFA MEMBERSHIP
NFA ID:
0089769
Complaint:
ON AUGUST 12, 1992, NFA'S EASTERN REGIONAL BUSINESS CONDUCT COMMITTEE ("EASTERN COMMITTEE") ISSUED A COMPLAINT TO SHUN PUN LIMITED ("SHUN PUN"). THE COMPLAINT ALLEGES THAT SHUN PUN USED PROMOTIONAL MATERIAL WHICH IS LIKELY TO DECEIVE THE PUBLIC AND IS MISLEADING AND UNBALANCED IN ITS DISCUSSION OF PROFIT AND LOSS IN VIOLATION OF NFA COMPLIANCE RULES 2-29(b)(1), (2) AND (3). THE COMPLAINT ALSO ALLEGES THAT SHUN PUN USED PROMOTIONAL MATERIAL WHICH IN- CLUDES PAST PERFORMANCE INFORMATION BUT DOES NOT INCLUDE THE STATEMENT THAT PAST RESULTS ARE NOT NECESSARILY INDICATIVE OF FUTURE RESULTS IN VIOLATION OF NFA COMPLIANCE RULE 2-29(b)(5). THE COMPLAINT FURTHER ALLEGES THAT SHUN PUN USED A DISCLOSURE DOCUMENT WHICH FAILED TO DISCLOSE POTENTIAL CONFLICTS OF INTEREST AND THAT SHUN PUN FAILED TO MAINTAIN REQUIRED RECORDS IN VIOLATION OF NFA COMPLIANCE RULE 2-13. Decision:
ON JANUARY 27, 1994, A DESIGNATED PANEL OF THE EASTERN COMMITTEE ("PANEL") ISSUED A DECISION TO SHUN PUN IN WHICH IT ACCEPTED ITS SETTLEMENT OFFER. THE PANEL ORDERED SHUN PUN TO WITHDRAW FROM NFA MEMBERSHIP AND NEVER REAPPLY FOR NFA MEMBERSHIP IN ANY CAPACITY. THIS DECISION BECOMES EFFECTIVE FEBRUARY 7, 1994.
Source: National Futures Association
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