| The following issues were presented to and decided by the undersigned Arbitrators: Claimants allege that the Respondents were negligent and failed to supervise with respect to the activities of Amber Maxwell's trading of the Claimants' account. Claimants also allege violations of CFTC Regulations 33.10 (Fraud), 166.2 (Authorization to trade), 166.3 (Failure to Supervise), NFA Compliance Rules 2-4 (Just and Equitable Principles of Trade) and 2-9 (Failure to Supervise), NFA Bylaw 1101 (Prohibition Against Dealing with Non-NFA Members), NFA Articles of Incorporation (Prohibition Against Dealing with Non-NFA Members), Commodity Exchange Act Section 6(m) (Aiding and Abetting), Code of Federal Regulation Section 4.14 (Aiding and Abetting) and Claimants' request for interest, costs, attorney's fees and other expenses incurred as part of the arbitration proceeding. The Panel also considered Respondents' request for attorney's fees, costs and other expenses incurred as part of the arbitration proceeding.
We, the Arbitrators appointed to hear and decide this matter in accordance with the Code of Arbitration of National Futures Association, have unanimously determined the following:
Respondents Peregrine Financial Group, Inc. and Brewer Futures Group, LLC are jointly and severally liable for the following Award and shall pay to Claimants Dave and Sherri Scheffert:
Compensatory Damages $ 0.00
Punitive Damages $ 0.00
Treble Damages $ 0.00
Interest $ 0.00
Attorney’s Fees $ 0.00
Other Costs $ 2,270.88*
Total Amount of Award $ 2,270.88
*The amount of other costs represents a portion of the total NFA filing, hearing and miscellaneous fees paid by the Claimants throughout this proceeding.
All other relief requested is hereby denied. |