Sign up for free newsletter

 

The National Futures Association (NFA) has suspended from NFA membership Christ Investment Service LLC (CIS), an introducing broker (IB) located in San Francisco, California.

NFA states that it took the Member Responsibility Action (MRA) based on information received by NFA 'that suggests CIS, which is only registered as an IB, is illegally acting as a futures commission merchant and as a counterparty to foreign currency transactions (forex)'.

CIS is also alleged to have provided NFA with false and misleading statements about its customer business, failed to produce books and records to NFA, and failed to cooperate with NFA in its investigation of this matter.

The suspension, which becomes effective immediately, prohibits CIS from acting in any manner which requires registration under the Commodity Exchange Act. The suspension also prohibits CIS from soliciting or accepting any additional customer accounts.  In addition, the suspension prohibits CIS from distributing, disbursing or transferring any funds without prior NFA approval.

The action will remain in effect until CIS demonstrates that it is in complete compliance with all NFA requirements. CIS may request a hearing before NFA's Hearing Committee.


Subscribe to free daily newsletter
latestjobs
Investment Banking VP (Financial Sponsors)

Fri, 28 Aug 2015 00:00:00 GMT

Investment Banking Restructuring Analyst/Associate

Fri, 28 Aug 2015 00:00:00 GMT

Investment Banking Associate (Specialty Finance)

Fri, 28 Aug 2015 00:00:00 GMT

events
1 day 12 hours from now - Texas
1 week 2 days from now - New York
1 week 3 days from now - New York
2 weeks 1 day from now - London
2 weeks 2 days from now - California
specialreports