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Arbitration Details

JCC INC NFA ID: 0001612

An NFA Arbitration claim is a futures or forex related dispute involving a customer and an NFA Member (or employee) or Associate. It is not a regulatory action.
NFA only discloses information concerning arbitration cases that have been decided by an arbitration panel. NFA does not release the names of parties who have settled their parts in the cases. Furthermore, NFA does not report or release information on cases that closed before January 1, 1990, cases that are still pending, or cases that were settled, withdrawn or rejected. Therefore, the number of NFA Arbitration Decisions reflects the total number of claims filed in NFA Arbitration that were decided by an arbitration panel. These decisions may have been decided in favor of the Claimant or Respondent.
Effective January 1, 2000, NFA discloses the names of persons who represent parties in NFA customer arbitration proceedings if the matters were decided by an arbitration panel. As of the same date, customers may no longer ask NFA to keep their identities confidential.

Case Summary
 Case No.FiledDecision DateProduct
 88ARB0031810/14/198803/12/1990Options (Domestic Exchange)
Summary of Parties
 CustomersMembersRepresentatives
• SONG LEE•  JCC INC
• ELLIS K KAHN
• MARTIN SOMMERS
• JAY BRUCE GROSSMAN
Proceeding Details
 Panel TypeNumber of ArbitratorsProceeding TypeLocation (City, State)
 MEMBER3HEARINGMIAMI, FL
Summary of Awards and Claims
 Type Claim Amount Counter Claim 3rd Party Claim Cross Claim
 
Compensatory
Punitive
Treble
Interest
Attorney Fees
Costs
 Claim Award
$9,487.50$1,600.00
$0.00$0.00
$0.00$0.00
NA$0.00
NA$0.00
NA$150.00
 Claim Award
$0.00$0.00
$0.00$0.00
$0.00$0.00
NA$0.00
NA$0.00
NA$0.00
 Claim Award
$0.00$0.00
$0.00$0.00
$0.00$0.00
NA$0.00
NA$0.00
NA$0.00
 Claim Award
$0.00$0.00
$0.00$0.00
$0.00$0.00
NA$0.00
NA$0.00
NA$0.00
Summary of Issues
MISREPRESENTAION OF PROFIT POTENTIAL AND IMPORTANCE OF ACCOUNT OPENING DOCUMENTS, EXCESSIVE TRADING IN ORDER TO GENERATE COMMISSIONS, FAILURE TO DISCLOSE RISK, HIGH PRESSURE SALES TACTICS, FAILURE TO NOTIFY CUS- TOMER OF DEPLETED BALANCE, FAILURE TO PROTECT CUSTOMER.

+++++NOTE: RESPONDENT JCC INC ALONE IS RESPONSIBLE TO PAY THIS AWARD

 
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