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For Immediate Release
April 08, 2003

For more information contact:
Cindy Cain (312) 781-1490, ccain@nfa.futures.org
Larry Dyekman (312) 781-1372, ldyekman@nfa.futures.org or
Jennifer Bucko (312) 781-1373, jbucko@nfa.futures.org

NFA suspends California commodities firm and its owner

April 8, Chicago - National Futures Association (NFA) announced today that it has suspended Premier Trading Group, a commodity pool operator and commodity trading advisor located in San Francisco, and its owner Douglas Brian Stevens. As a result of the suspension, Premier and Stevens are prohibited from acting in any manner which requires registration under the Commodity Exchange Act and are prohibited from disbursing any funds without approval from NFA.

NFA took the enforcement action because it received information that Stevens solicited customers to invest money with Premier and DBS Capital Inc., a foreign currency (FOREX) firm owned and operated by him; Stevens created false books and records to conceal the true financial condition of these firms and has commingled funds of these firms; Stevens provided false statements to investors inflating the worth of their investments; and he misappropriated the assets of the commodity pool operated by Premier.

The suspension will remain in effect until NFA is satisfied that Premier and Stevens are in complete compliance with all NFA requirements. Premier and Stevens may petition the Commodity Futures Trading Commission (CFTC) for a stay of this action and may also request a hearing before NFA’s Hearing Committee.

The CFTC assisted NFA in this investigation and announced today that a federal district court in California issued an order freezing the assets and preventing the destruction of the books and records of DBS Capital and Douglas Stevens. The action stems from a CFTC complaint filed on March 31, 2003.

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

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