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For Immediate Release
July 09, 2003

For more information contact:
Larry Dyekman (312) 781-1372, ldyekman@nfa.futures.org

NFA bars Fort Lauderdale futures firm and fines several of its employees

July 8, Chicago - National Futures Association (NFA) announced today that it has barred First Liberty Investment Services, Inc., an Introducing Broker located in Fort Lauderdale, Florida, from NFA membership for a period of 10 years and issued fines totaling $122,500 against 14 of the firmís employees. The fines and sanctions are part of a settlement offer submitted jointly by First Liberty and the individual respondents in response to an NFA Complaint issued on September 26, 2002.

The NFA Complaint charged First Liberty and a number of its Associated Persons (Anthony P. Brocco, Daniel A. Brown, Isaac Cohen, Joseph F. Colozza, Jr., Matthew A. DeFelice, James V. Eulo, Stephanie A. Gallitano, Jeffrey P. Jedlicki, Steve D. Knowles, Jay M. Levy, Adam S. Mills, Lisa M. Mills, Corey B. Summers and Joseph Valko) with one or more of the following rule violations: high pressure sales tactics, making misleading sales solicitations to customers that exaggerated profit potential and minimized risk of loss, failing to give appropriate risk disclosure to a customer, using misleading promotional material, failing to supervise and failing to cooperate with NFA in an NFA audit.

A copy of the Decision can be accessed through NFAís Web site at www.nfa.futures.org.

NFA is the premier independent provider of efficient and innovative 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 derivatives markets.
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