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July 22, 2008

In this Issue: Investing in Uncertain Times Beware of Investment Scams Panel Discussion at Forex Trading Expo

Investor education group lists resources for investing in uncertain times 

The Alliance for Investor Education recently published a list on their Web site ( "highlighting eight of the best Web-based resources for investing in uncertain times". The list, called "Tips for Turbulent Times", contains links to materials published by several federal agencies and consumer protection organizations. The complete list features the following publications:

1. For Long-Term Investors, the Focus Should BE on Risk - American Association of Individual Investors

2. Analyzing Investment Research Can Help Investors Weather a Turbulent Market - CFA Institute

3. Bear Market? - Financial Industry Regulatory Authority, Inc.

4. How to Survive a Slowdown - Publishers Association

5. For Investors Concerned About The Safety Of Their Brokerage Accounts - Securities Investor Protection Corporation and North American Securities Administrators Association

6. Answers to Frequently Asked Investor Questions Regarding the Bear Stearns Companies, Inc. - Securities and Exchange Commission

7. Managing Expectations - PathToInvesting/Securities Industry and Financial Markets Association

8. Resources on Company Stock in 401(k) Plans - Employee Benefit Research Institute

National Futures Association is a member of The Alliance for Investor Education, which is comprised of 21 of the United States' leading financial-related foundations, nonprofit organizations, associations and government agencies.

Beware of investment scams that capitalize on current events

With the news full of stories relating to the rising costs of fuel and the turmoil in the housing markets, investors are more vulnerable to fraudulent investment schemes designed to take advantage of current events.

"Criminals watch and read the news and tend to follow the headlines in an effort to lend their schemes a cloak of legitimacy," says Karen Tyler, president of the North American Securities Administrators Association (NASAA). "Investors today are facing enough challenges without having to worry about being conned and swindles by get-rich schemes."

NASAA recently published a press release describing some of the more prevalent investment scams, primarily in oil, gas and real estate-related investments. NASAA is also warning investors of "unscrupulous individuals trying to use social networking websites to lure people to meetings that may promote fraudulent or unsuitable investment products."

In 2007, the Securities and Exchange Commission (SEC) issued an investor advisory called "Oil and Gas Scams: Common Red Flags and Steps You Can Take to Protect Yourself." Similar to NASAA's message to investors, the SEC warns individuals to be wary of sales pitches focused on highly publicized news, "can't miss" oil wells and promises of high rates of return.

NFA Compliance Director to participate in panel discussion at upcoming Forex Trading Expo

Compliance Director Sharon Pendleton will participate in a panel discussion entitled, "The Questions You Need to Ask Your Broker before Opening a Forex Account" at the Forex Trading Expo, scheduled on September 12 and 13 in Las Vegas. Joining Sharon on the panel will be CFTC Deputy Director, Compliance and Registration, William Penner and Tim Bourquin, co-founder of the Traders Expo and the Forex Trading Expo.

NFA will also sponsor an information booth in the exhibit hall, where staff will distribute forex education brochures and demonstrate how to conduct online background checks of forex firms and brokers.

"Investors attending the Expo spend a lot of time learning forex trading strategies," says Larry Dyekman, director of Communications and Education at NFA. "We give them the opportunity to spend an equal amount of time learning about the risks involved in trading forex and the firms who are vying for their money."

The Forex Trading Expo will be held at the Mandalay Bay Convention Center, and admission is free. For more information on the expo, visit the expo's Web site.

Recent Enforcement Actions

In the second quarter of 2008, NFA's Business Conduct Comittee issued Decisions, Member Responsibility Actions and Final Orders in Registration Cases against the following NFA Member firms and individuals. Click on the name for more detailed information.

Decisions in Disciplinary Cases
Arman Agdaian
Adam T. Bassage
Attain Capital Management LLC
Jonathan J. Berman
Blue System Incorporated
Richard Cliche
Ryan S. Cubiotti
Europa Capital Associates LLC
Walter J. Gallwas
Albert Gonzalez
Ice Investments LLC
Jaguar Trading
Jeffrey D. Malec
Richard I. Mata
Sheffield Trading LLC
Martin K. Snow
Stillwater Capital Partners LLC
UOT Financial Services LLC

Member Responsibility Actions
Victor E. Cilli
Last Atlantis Capital Management LLC
Progressive Investment Funds

Final Orders in Registration Cases
Matthew J. Ammermann
Robert Johnson
Carlton Krumpfes
Richard Polich

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