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For Immediate Release
July 23, 2007

For more information contact:
Larry Dyekman (312) 781-1372, ldyekman@nfa.futures.org
Karen Wuertz (312) 781-1335, kwuertz@nfa.futures.org

NFA permanently bars Cal Financial Corporation and fines its principal

July 23, Chicago - National Futures Association (NFA) has permanently barred Cal Financial Corporation (Cal Financial), a Futures Commission Merchant, Commodity Pool Operator and Forex Dealer Member located in Thousand Oaks, California. NFA also ordered John A. Indelicato, Cal Financial's principal and a registered associated person of NFA, to pay a fine of $12,000. The Decision, issued by an NFA Hearing Panel, is based on a Complaint filed in March 2007 and a settlement offer submitted by Cal Financial and Indelicato.

The Complaint charged that Cal Financial failed to implement an adequate anti-money laundering program and failed to file financial statements in a timely manner. The Complaint also charged that Cal Financial and Indelicato failed to supervise Cal Financial's employees. Pursuant to Indelicato's settlement offer, the Panel found that he failed to diligently supervise Cal Financial's employees and its agents in their conduct of foreign currency (forex) futures and options activities.

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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