News Releases

2014 |  2013 |  2012 |  2011 |  2010 |  2009 |  2008 |  2007 |  2006 |  2005 |  2004 |  2003 |  2002 |  2001 |  2000 |  1999

Subscribe to our feed Follow NFA_News on Twitter
Email This to a Friend
For Immediate Release
January 21, 2010

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 Chicago commodity pool operator, Wextrade Commodity Managers LLC

January 21, Chicago - National Futures Association (NFA) has accepted a settlement offer from Wextrade Commodity Managers LLC (WCM) to permanently withdraw from NFA membership. Paul J. Adrian, WCM's principal, is barred from NFA membership for a period of three years. WCM is a Commodity Pool Operator located in Chicago, Illinois. The Decision, issued by an NFA Hearing Panel, is based on an NFA Complaint filed in May 2009 and settlement offers submitted by WCM and Adrian.

The Complaint charged that WCM and Adrian failed to supervise the firm and its commodity futures activities. Additionally, the Complaint charged that WCM commingled the pool's assets, received funds in unauthorized names or accounts and failed to provide required information to NFA. The Complaint also charged that WCM used deceptive promotional material and failed to review the promotional material prior to its use. Finally, the Complaint charged that WCM failed to register an associated person and failed to list a principal.

In the event that Adrian reapplies for NFA membership or associate membership or principal status with any NFA Member after the three-year bar, he must pay a fine of $50,000.

The complete text of the Complaint and Decision can be found on NFA's website (www.nfa.futures.org).

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

NFA is the premier independent provider of efficient and innovative regulatory programs that safeguard the integrity of the derivatives markets.
Site Index | Contact NFA | News Center | FAQs | Career Opportunities | Industry Links | Home
© National Futures Association All Rights Reserved. | Disclaimer and Privacy Policy