Barred sign

NFA orders Cap Ex Partners to permanently withdraw from membership

The National Futures Association (NFA) has ordered Cap Ex Partners, a commodity trading advisor located in Westminster, California, to permanently withdraw from NFA membership.

The NFA has also ordered Keith R Bramlett and Ralph H Johnson, associated persons and listed principals of Cap Ex, to withdraw from NFA membership.
 
Bramlett and Johnson are prohibited from applying for NFA membership or associate membership for a period of two years from the date of their withdrawals. In addition, Bramlett and Johnson are prohibited from acting as a principal of any NFA Member for a period of three years from the date of their withdrawals.
 
The decision, issued by a designated panel of NFA's hearing committee, is based on a complaint filed against Cap Ex, Bramlett and Johnson on 29 August 2013 and a settlement offer submitted by Cap Ex, Bramlett and Johnson.
 
The panel found that Cap Ex, Bramlett and Johnson charged their customers excessive fees and failed to provide customers with a break-even analysis as required by NFA rules. In addition, Cap Ex and Bramlett wilfully submitted false information to NFA. Further, Cap Ex used a misleading disclosure document, did business with an entity that was required to be registered as a commodity pool operator but was not registered in such capacity and failed to list an entity as a principal of the firm.

Further reading



Upcoming events

Upcoming training

Mon, 12/05/2014 (All day) - Dubai
Tue, 13/05/2014 (All day) - Dubai