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For Immediate Release
April 28, 2000
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NFA bars former AP of American Financial Trading Corporation
April 28, Chicago - National Futures Association barred an individual from NFA membership for allegedly making deceptive and misleading sales solicitations to customers which downplayed the speculative nature of options and suggested that options trading was a relatively easy way for customers to make large profits in a short time. NFA barred Steven F. Chambers from membership and Associate membership, and ordered him not to act as a principal, for six months. Chambers is a former associated person of American Financial Trading Corporation, an independent introducing broker NFA Member located in Fort Lauderdale, Florida. Chambers submitted a settlement offer in which he neither admitted nor denied the allegations.
NFA is a congressionally authorized self-regulatory organization for the U.S. futures industry.