Case Summary

COMPLAINT:

On March 12, 2012, NFA issued a Complaint charging ACA, CTM and Montgomery with willfully making a false report to customers and failing to observe high standards of commercial honor and just and equitable principles of trade. The Complaint also charges ACA and CTM with failure to file an exemption notice, disclosure document or annual financial statement for the pools with NFA and failure to furnish participants in the pools with a financial statement.

ANSWER:

On April 12, 2012, ACA, CTM and Montgomery filed an Answer to the Complaint in which they denied the material allegations contained therein.

DECISION:

On June 19, 2012, pursuant to a settlement offer received from ACA, CTM and Montgomery, ACA, CTM and Montgomery were ordered to withdraw from NFA membership and associate membership, respectively within 30 days. ACA and CTM were ordered to never again apply for NFA membership, associate membership or principal status with any NFA Member. Montgomery was barred from NFA membership, associate membership or principal status with any NFA Member for three years. In the event that Montgomery attains NFA membership, associate membership or principal status with any NFA Member at any point in the future, he was ordered to pay a $20,000 fine within 30 days of attaining such status.

COMPLAINT:

On March 12, 2012, NFA issued a Complaint charging ACA, CTM and Montgomery with willfully making a false report to customers and failing to observe high standards of commercial honor and just and equitable principles of trade. The Complaint also charges ACA and CTM with failure to file an exemption notice, disclosure document or annual financial statement for the pools with NFA and failure to furnish participants in the pools with a financial statement.

ANSWER:

On April 12, 2012, ACA, CTM and Montgomery filed an Answer to the Complaint in which they denied the material allegations contained therein.

DECISION:

On June 19, 2012, pursuant to a settlement offer received from ACA, CTM and Montgomery, ACA, CTM and Montgomery were ordered to withdraw from NFA membership and associate membership, respectively within 30 days. ACA and CTM were ordered to never again apply for NFA membership, associate membership or principal status with any NFA Member. Montgomery was barred from NFA membership, associate membership or principal status with any NFA Member for three years. In the event that Montgomery attains NFA membership, associate membership or principal status with any NFA Member at any point in the future, he was ordered to pay a $20,000 fine within 30 days of attaining such status.

COMPLAINT:

On March 12, 2012, NFA issued a Complaint charging ACA, CTM and Montgomery with willfully making a false report to customers and failing to observe high standards of commercial honor and just and equitable principles of trade. The Complaint also charges ACA and CTM with failure to file an exemption notice, disclosure document or annual financial statement for the pools with NFA and failure to furnish participants in the pools with a financial statement.

ANSWER:

On April 12, 2012, ACA, CTM and Montgomery filed an Answer to the Complaint in which they denied the material allegations contained therein.

DECISION:

On June 19, 2012, pursuant to a settlement offer received from ACA, CTM and Montgomery, ACA, CTM and Montgomery were ordered to withdraw from NFA membership and associate membership, respectively within 30 days. ACA and CTM were ordered to never again apply for NFA membership, associate membership or principal status with any NFA Member. Montgomery was barred from NFA membership, associate membership or principal status with any NFA Member for three years. In the event that Montgomery attains NFA membership, associate membership or principal status with any NFA Member at any point in the future, he was ordered to pay a $20,000 fine within 30 days of attaining such status.