Skip Navigation Links

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information on cases that closed before January 1, 1990, cases that are still pending, or cases that were settled, withdrawn or rejected.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
 94ARB0001802/22/199410/03/1994Options (Domestic Exchange)
Summary of Parties
 CustomersMembersRepresentatives
• ROBERT SHERMAN• GARY JACK HERICK
•  JCC INC
• JAMES JOHN KERR
• RAUL H MACHIN
• GARY FEDER
Proceeding Details
 Panel TypeNumber of ArbitratorsProceeding TypeLocation (State)
 MEMBER1SUMMARYNY
Summary of Awards and Claims
 Type Claim Amount Counter Claim 3rd Party Claim Cross Claim
 
Compensatory
Punitive
Treble
Interest
Attorney Fees
Costs
 Claim Award
$6,316.50$700.00
$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
 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
PRELIMINARY HEARING SUMMARY OF ISSUES: WHETHER THE MOTIONS TO DISMISS FILED BY RESPONDENTS KERR AND JCC, INC. SHOULD BE GRANTED. MOTIONS TO DISMISS FOR LACK OF LIABILITY GRANTED AS TO KERR AND JCC. CASE PROCEEDS AGAINST OTHER PARTIES.

HEARING SUMMARY OF ISSUES: MISREPRESENTATION, HIGH PRESSURE SALES TACTICS, FAILURE TO MONITOR ACCOUNT, TRADING ACCOUNT TO GENERATE COMMISSIONS AND WITHOUT CONCERN FOR CLAIMANT'S BEST INTERESTS, FILING OF A FRIVOLOUS CLAIM AND REQUEST FOR COSTS INCURRED IN DEFENDING CLAIM.

RESPONDENT GARY HERICK SHALL PAY TO CUSTOMER CLAIMANT $700.00. THIS CASE IS DISMISSED WITH PREJUDICE AS IT PERTAINS TO RESPONDENT RAUL MACHIN.

 
NFA is the premier independent provider of efficient and innovative regulatory programs that safeguard the integrity of the derivatives markets.