NFA's Board of Directors elects Christopher Hehmeyer to serve as Chairman
February 22, Chicago - The Board of Directors of National Futures Association (NFA) has elected Christopher K. Hehmeyer, Non-Executive Chairman at Penson Futures, to serve a one-year term as Chairman. The Board also elected Paul J. Georgy, President of Allendale, Inc., to serve as Vice Chairman.
Mr. Hehmeyer replaces former NFA chairman Richard Faulkner, president of JP Morgan Futures.
In addition, the Board re-elected the following individuals to serve two-year terms as public directors:
The Board also elected the following individuals to serve one-year terms on NFA's Executive Committee:
Mr. Hehmeyer also serves on the Executive Committee and NFA's President Daniel Roth serves as an ex officio non-voting member of the Committee.
NFA is the independent provider of regulatory programs that safeguard the integrity of the derivatives markets.
NFA permanently bars Texas Commodity Trading Advisor FIN FX LLC and its principal, Leon L. Wolmarans
March 7, Chicago - National Futures Association (NFA) has permanently barred FIN FX LLC (FIN FX) from NFA membership and its principal, Leon L. Wolmarans. FIN FX was a Commodity Trading Advisor in Carrolton, Texas and NFA Member firm since December 2007. The Decision, issued by an NFA Hearing Panel, is based on an NFA Complaint filed in August 2011 and a settlement offer submitted by FIN FX and Wolmarans.
The Complaint charged that FIN FX and Wolmarans failed to promptly and fully cooperate with NFA in its investigation of FIN FX's business, used false and misleading promotional material, and posted trading results on FIN FX's website for which they could not provide support.
In April 2011, NFA issued a Member Responsibility Action (MRA) which suspended FIN FX and Wolmarans from NFA membership because the firm attempted to solicit customers with false and misleading information, including deceptive performance claims on FIN FX's website. Additionally, FIN FX and Wolmarans provided misleading information to NFA and failed to cooperate with NFA in its examination of the firm by failing to provide information and produce records requested by NFA. See previous press release.
NFA is the premier independent provider of innovative and efficient regulatory programs that safeguard the integrity of the futures markets.
NFA sanctions Florida firm FX Currency Traders and its principal, Jacob N. Martinez
March 2, 2012, Chicago - National Futures Association (NFA) has ordered FX Currency Traders, Inc., a former forex firm and introducing broker (IB) located in Lake Mary, Florida, not to reapply for NFA membership or act as a principal of an NFA Member. In addition, NFA has ordered the firm's principal and sole owner, Jacob N. Martinez (Martinez), not to reapply for NFA membership for a period of three years and to pay a $150,000 fine to NFA in the event he reapplies for NFA membership after the three-year period expires. The Decision, issued by an NFA Hearing Panel, is based on an NFA Complaint filed in October 2011 and a settlement offer submitted by FX Currency Traders and Martinez.
NFA takes emergency enforcement action against Texas firm J Hansen Investments LLC and its principal, Jonathan Hansen
February 27, Chicago - National Futures Association (NFA) announced today that it has taken an emergency enforcement action against J Hansen Investments LLC (JHI) and its principal, Jonathan Hansen (Hansen). J Hansen Investments is an NFA Member commodity pool operator located in Houston, Texas and Hansen is also an NFA Associate.
Effective immediately, JHI and Hansen are suspended from NFA membership and associate membership. In addition, they are prohibited from placing trades in any accounts and from distributing or transferring any customer funds.
JHI and Hansen may request a hearing before NFA's Hearing Committee.