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Case Summary

ANGUS JACKSON INC OF FLORIDA NFA 10BCC00039 NFA ID: 0190396

Respondent/Effective Date Summary
 NFA IDRespondentEffective Date
 0190396ANGUS JACKSON INC OF FLORIDA09/14/2012
 0029028BEDICK, MARTIN HAROLD09/14/2012
 0194486ROSE, MICHAEL ELLIOT09/14/2012
Rule Summary
 NFA IDRespondentRule Type
 0190396ANGUS JACKSON INC OF FLORIDA• C.R.2-4 - HIGH STDS. OF COMMERCIAL HONOR
  • C.R.2-26 - VIOL. CFTC 1.33/1.55/1.56 BY FCM/IB
  • C.R.2-10 - RECORDKEEPING FCMS/IBS
  • BLAW301(b) - REGISTRATION OF APS AS ASSOCIATES
  • BLAW1101 - MEMBS MAY NOT DO BUS. W/ NON-MEMBS
  • C.R.2-9(c) - ANTI-MONEY LAUNDERING PROGRAM
  • C.R. 2-2(f) - INACCURATE INFORMATION TO NFA/AGENTS
 0029028BEDICK, MARTIN HAROLD• C.R. 2-2(f) - INACCURATE INFORMATION TO NFA/AGENTS
  • BLAW301(b) - REGISTRATION OF APS AS ASSOCIATES
  • BLAW1101 - MEMBS MAY NOT DO BUS. W/ NON-MEMBS
  • C.R.2-4 - HIGH STDS. OF COMMERCIAL HONOR
 0194486ROSE, MICHAEL ELLIOT• C.R.2-4 - HIGH STDS. OF COMMERCIAL HONOR
  • BLAW301(b) - REGISTRATION OF APS AS ASSOCIATES
  • BLAW1101 - MEMBS MAY NOT DO BUS. W/ NON-MEMBS
  • C.R. 2-2(f) - INACCURATE INFORMATION TO NFA/AGENTS
Committee Summary
 NFA IDRespondentCommittee
 0190396ANGUS JACKSON INC OF FLORIDA• BUSINESS CONDUCT COMMITTEE
  • HEARING COMMITTEE
  • APPEALS COMMITTEE
 0029028BEDICK, MARTIN HAROLD• HEARING COMMITTEE
  • BUSINESS CONDUCT COMMITTEE
  • APPEALS COMMITTEE
 0194486ROSE, MICHAEL ELLIOT• HEARING COMMITTEE
  • BUSINESS CONDUCT COMMITTEE
  • APPEALS COMMITTEE
Action Summary
 NFA IDRespondentAction Types
 0190396ANGUS JACKSON INC OF FLORIDA• GENERAL CONDUCT
  • REGISTRATION
 0029028BEDICK, MARTIN HAROLD• REGISTRATION
  • GENERAL CONDUCT
 0194486ROSE, MICHAEL ELLIOT• REGISTRATION
  • GENERAL CONDUCT
Penalty/Event Summary
 NFA IDRespondentPenalty/EventEvent Date
 0190396ANGUS JACKSON INC OF FLORIDA• AFFIRMED ON APPEAL - APPEALS COMMITTEE08/15/2012
  • ON APPEAL - NFA APPEALS COMMITTEE11/02/2011
  • TEMPORARY SUSPENSION FROM PRINCIPAL STATUS 7 YRS10/18/2011
  • TEMPORARY SUSPENSION FROM NFA MEMBERSHIP 7 YRS10/18/2011
  • FINE (CONTINGENT) $2500010/18/2011
 0029028BEDICK, MARTIN HAROLD• AFFIRMED ON APPEAL - APPEALS COMMITTEE08/15/2012
  • ON APPEAL - NFA APPEALS COMMITTEE11/02/2011
  • TEMPORARY SUSPENSION FROM NFA MEMBERSHIP 7 YRS10/18/2011
  • PERMANENT BAR FROM PRINCIPAL STATUS10/18/2011
  • TEMPORARY SUSPENSION FROM NFA ASSOCIATE MEMBERSHIP 7 YRS10/18/2011
 0194486ROSE, MICHAEL ELLIOT• AFFIRMED ON APPEAL - APPEALS COMMITTEE08/15/2012
  • ON APPEAL - NFA APPEALS COMMITTEE11/01/2011
  • PERMANENT BAR FROM PRINCIPAL STATUS10/18/2011
  • TEMPORARY SUSPENSION FROM NFA MEMBERSHIP 2 YRS10/18/2011
  • TEMPORARY SUSPENSION FROM NFA ASSOCIATE MEMBERSHIP 2 YRS10/18/2011
Narrative Summary
Narrative for 0190396 - ANGUS JACKSON INC OF FLORIDA
**TO VIEW DOCUMENTS, GO TO CASE DOCUMENTS. FOR A COPY OF DOCUMENTS, CONTACT NFA'S INFORMATION CENTER.**

COMPLAINT:

On December 22, 2010, NFA issued a Complaint charging Angus Jackson, Bedick and Rose with submitting false and misleading information to NFA, failing to uphold high standards of commercial honor and just and equitable principles of trade, doing business with a non-NFA Member that was required to be registered, and allowing an unregistered individual to solicit customers. The Complaint also charged Angus Jackson with failing to develop and implement an adequate AML program and including orders for proprietary or non-customer accounts with, and using post-execution allocation for, bunched customer orders.

ANSWER:

On February 4, 2011, Angus Jackson, Bedick and Rose filed an Answer to the Complaint in which they denied the material allegations contained therein.

DECISION:

On October 18, 2011, a designated Panel of NFA's Hearing Committee issued a Decision after a hearing was held. The Decision ordered that Bedick is suspended from NFA membership and associate membership for seven years and is permanently barred from acting as a principal of an NFA Member. Rose is suspended from NFA membership and associate membership for two years and is permanently barred from acting as a principal of an NFA Member. Angus Jackson is suspended from NFA membership and from acting as a principal of an NFA Member for seven years. If after the conclusion of the seven-year period Angus Jackson applies for NFA membership or to be a principal of an NFA Member, it must pay a $25,000 fine within 30 days from the date on which it is granted NFA membership or principal status.

APPEALS DECISION:

On August 15, 2012, NFA's Appeals Committee affirmed the Hearing Panel's findings of violations and the sanctions that it imposed on Angus, Jackson, Bedick and Rose in all respects.

 
Narrative for 0029028 - BEDICK, MARTIN HAROLD
**TO VIEW DOCUMENTS, GO TO CASE DOCUMENTS. FOR A COPY OF DOCUMENTS, CONTACT NFA'S INFORMATION CENTER.**

COMPLAINT:

On December 22, 2010, NFA issued a Complaint charging Angus Jackson, Bedick and Rose with submitting false and misleading information to NFA, failing to uphold high standards of commercial honor and just and equitable principles of trade, doing business with a non-NFA Member that was required to be registered, and allowing an unregistered individual to solicit customers. The Complaint also charged Angus Jackson with failing to develop and implement an adequate AML program and including orders for proprietary or non-customer accounts with, and using post-execution allocation for, bunched customer orders.

ANSWER:

On February 4, 2011, Angus Jackson, Bedick and Rose filed an Answer to the Complaint in which they denied the material allegations contained therein.

DECISION:

On October 18, 2011, a designated Panel of NFA's Hearing Committee issued a Decision after a hearing was held. The Decision ordered that Bedick is suspended from NFA membership and associate membership for seven years and is permanently barred from acting as a principal of an NFA Member. Rose is suspended from NFA membership and associate membership for two years and is permanently barred from acting as a principal of an NFA Member. Angus Jackson is suspended from NFA membership and from acting as a principal of an NFA Member for seven years. If after the conclusion of the seven-year period Angus Jackson applies for NFA membership or to be a principal of an NFA Member, it must pay a $25,000 fine within 30 days from the date on which it is granted NFA membership or principal status.

APPEALS DECISION:

On August 15, 2012, NFA's Appeals Committee affirmed the Hearing Panel's findings of violations and the sanctions that it imposed on Angus, Jackson, Bedick and Rose in all respects.

CFTC DECISION:

On March 13, 2014, the CFTC issued an Order of Summary Affirmance in which they summarily affirmed the decision of NFA Appeals Committee as to Rose and Bedick.

 
Narrative for 0194486 - ROSE, MICHAEL ELLIOT
**TO VIEW DOCUMENTS, GO TO CASE DOCUMENTS. FOR A COPY OF DOCUMENTS, CONTACT NFA'S INFORMATION CENTER.**

COMPLAINT:

On December 22, 2010, NFA issued a Complaint charging Angus Jackson, Bedick and Rose with submitting false and misleading information to NFA, failing to uphold high standards of commercial honor and just and equitable principles of trade, doing business with a non-NFA Member that was required to be registered, and allowing an unregistered individual to solicit customers. The Complaint also charged Angus Jackson with failing to develop and implement an adequate AML program and including orders for proprietary or non-customer accounts with, and using post-execution allocation for, bunched customer orders.

ANSWER:

On February 4, 2011, Angus Jackson, Bedick and Rose filed an Answer to the Complaint in which they denied the material allegations contained therein.

DECISION:

On October 18, 2011, a designated Panel of NFA's Hearing Committee issued a Decision after a hearing was held. The Decision ordered that Bedick is suspended from NFA membership and associate membership for seven years and is permanently barred from acting as a principal of an NFA Member. Rose is suspended from NFA membership and associate membership for two years and is permanently barred from acting as a principal of an NFA Member. Angus Jackson is suspended from NFA membership and from acting as a principal of an NFA Member for seven years. If after the conclusion of the seven-year period Angus Jackson applies for NFA membership or to be a principal of an NFA Member, it must pay a $25,000 fine within 30 days from the date on which it is granted NFA membership or principal status.

APPEALS DECISION:

On August 15, 2012, NFA's Appeals Committee affirmed the Hearing Panel's findings of violations and the sanctions that it imposed on Angus, Jackson, Bedick and Rose in all respects.

CFTC DECISION:

On March 13, 2014, the CFTC issued an Order of Summary Affirmance in which they summarily affirmed the decision of NFA Appeals Committee as to Rose and Bedick.

 
Case Documents Summary
 NFA IDRespondentDocument Type
 0190396ANGUS JACKSON INC OF FLORIDAANSWER
 0190396ANGUS JACKSON INC OF FLORIDAAPPEALS COMMITTEE DECISION
 0190396ANGUS JACKSON INC OF FLORIDACOMPLAINT
 0190396ANGUS JACKSON INC OF FLORIDADECISION
 0190396ANGUS JACKSON INC OF FLORIDANOTICE OF APPEAL
 0029028BEDICK, MARTIN HAROLDANSWER
 0029028BEDICK, MARTIN HAROLDAPPEALS COMMITTEE DECISION
 0029028BEDICK, MARTIN HAROLDCFTC DECISION
 0029028BEDICK, MARTIN HAROLDCOMPLAINT
 0029028BEDICK, MARTIN HAROLDDECISION
 0029028BEDICK, MARTIN HAROLDNOTICE OF APPEAL
 0194486ROSE, MICHAEL ELLIOTANSWER
 0194486ROSE, MICHAEL ELLIOTAPPEALS COMMITTEE DECISION
 0194486ROSE, MICHAEL ELLIOTCFTC DECISION
 0194486ROSE, MICHAEL ELLIOTCOMPLAINT
 0194486ROSE, MICHAEL ELLIOTDECISION
 0194486ROSE, MICHAEL ELLIOTNOTICE OF APPEAL
 
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