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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cases that were settled, withdrawn or rejected.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.
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| 92ARB00145 | 08/19/1992 | 05/04/1993 | Options (Domestic Exchange) |
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| • ANN SOUTHER | • JCC INC
• LARRY ALAN KAHN
• SEAN PATRICK MURPHY | • JOHN CONNOLLY
• JAY BRUCE GROSSMAN |
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| NON-MEMBER | 3 | HEARING | WASHINGTON, DC |
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| $30,000.00 | $4,800.00 | | $0.00 | $0.00 | | $0.00 | $0.00 | | NA | $0.00 | | NA | $0.00 | | NA | $0.00 |
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| $0.00 | $0.00 | | $0.00 | $0.00 | | $0.00 | $0.00 | | NA | $0.00 | | NA | $0.00 | | NA | $0.00 |
| |
| $0.00 | $0.00 | | $0.00 | $0.00 | | $0.00 | $0.00 | | NA | $0.00 | | NA | $0.00 | | NA | $0.00 |
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| $0.00 | $0.00 | | $0.00 | $0.00 | | $0.00 | $0.00 | | NA | $0.00 | | NA | $0.00 | | NA | $0.00 |
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| | | VIOLATION OF SECTION 4C(B) OF THE CEA AND CFTC REGULATION 33.10 FOR FRAUD, CHURNING AND BREACH OF FIDUCIARY OBLIGATIONS; VIOLATION OF SECTION 2(A)(1)(A) OF THE CEA AND CFTC REGULATION 166.3 FOR FAILURE TO SUPERVISE; VIOLATION OF SECTION 13(A) OF THE CEA FOR RESPONDENTS HAVE AIDED, ABETTED AND ACTED IN CONCERT IN THE ABOVE VIOLATIONS; BREACH OF WRITTEN AND ORAL CONTRACT; COMMON LAW FRAUD AND DECEIT, AND NEGLIGENCE; VIOLATION OF NFA COMPLIANCE RULE 2-2 (FRAUD); RULE 2-29 (FALSE AND DECEPTIVE COMMUNICATIONS AND HIGH PRESSURE SALES TACTICS); RULE 2-30 (FAILURE TO OBTAIN ADEQUATE CUSTOMER INFORMATION AND LACK OF DISCLOSURE); AND RULE 2-4 (FAILURE TO OBSERVE HIGH STANDARDS OF COMMERCIAL HONOR AND JUST AND EQUITABLE PRINCIPLES OF TRADE); WAIVER; ESTOPPEL; RATIFICATION; REBUTTAL/DENIAL; FAILURE TO STATE A CLAIM; AND STATUTE OF LIMITATIONS.
THIS MATTER IS DISMISSED AS TO RESPONDENTS MURPHY AND KAHN. RESPONDENT JCC INC. SHALL PAY TO CUSTOMER $4,800.00 | | | | |
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