Case Summary

On May 26, 2005, NFA issued a Complaint charging Wallstreet, DiCrisci and Mitchell with making deceptive and misleading sales solicitations. In addition, the Complaint charged Wallstreet and DiCrisci with making high-pressured sales solicitations and failure to uphold high standards of commercial honor and just and equitable principles of trade. The Complaint also charged Wall Street and DiCrisci with failing to diligently supervise employees and agents in the conduct of their commodity futures activities. To view complaint, go to Case Documents. For a copy of the Complaint, contact NFA.

ANSWER -

On June 28, 2005, Wallstreet and DiCrisci filed an Answer to the Complaint in which they denied the material allegations contained therein. To view Answer, go to Case Documents.

DECISION -

On December 20, 2005, Wallstreet was permanently barred from reapplying for NFA membership or acting as a principal of an NFA Member. DiCrisci was ordered not to apply for NFA membership or associate membership or act as a principal of an NFA Member for one year. Thereafter, DiCrisci may not act in a supervisory capacity for an additional three years. If, after the one-year ban expires, DiCrisci is granted NFA membership, associate membership, or becomes a principal of an NFA Member, he must pay a $10,000 fine, due and payable 30 days after he is granted NFA membership, associate membership or becomes a principal of an NFA Member.

If DiCrisci again becomes an NFA Member or Associate, he must tape record, for six months, all conversations between himself and existing or potential customers; retain these tapes for one year from the date they are created; and make the tapes available to NFA upon request. The six-month period begins on the date he again becomes an NFA Member or Associate. Only the time he is registered and actively soliciting customers on a full-time basis will be counted in calculating the six-month taping period. If DiCrisci becomes a principal of an NFA Member, he will cause all APs of that firm - and any other firm of which he is a principal - to tape record for six months all conversations that occur between them and existing or potential customers; retain these tapes for one year from the date they are created; and make the tapes available to NFA upon request. The six-month taping requirement applies to each and every firm of which he becomes a principal and will begin on the date he becomes a principal of each firm, respectively. Only the time when he is a principal of that particular firm and that firm is actively soliciting customers will be counted in the six-month calculation and, in any and all events, the taping requirements will expire on December 31, 2008.

Mitchell is permanently barred from NFA membership, NFA associate membership, and from being a principal of any NFA Member. To view Decision, go to Case Documents. For a copy of the Decision, contact NFA.

On May 26, 2005, NFA issued a Complaint charging Wallstreet, DiCrisci and Mitchell with making deceptive and misleading sales solicitations. In addition, the Complaint charged Wallstreet and DiCrisci with making high-pressured sales solicitations and failure to uphold high standards of commercial honor and just and equitable principles of trade. The Complaint also charged Wall Street and DiCrisci with failing to diligently supervise employees and agents in the conduct of their commodity futures activities. To view complaint, go to Case Documents. For a copy of the Complaint, contact NFA.

DECISION -

On December 20, 2005, Wallstreet was permanently barred from reapplying for NFA membership or acting as a principal of an NFA Member. DiCrisci was ordered not to apply for NFA membership or associate membership or act as a principal of an NFA Member for one year. Thereafter, DiCrisci may not act in a supervisory capacity for an additional three years. If, after the one-year ban expires, DiCrisci is granted NFA membership, associate membership, or becomes a principal of an NFA Member, he must pay a $10,000 fine, due and payable 30 days after he is granted NFA membership, associate membership or becomes a principal of an NFA Member.

If DiCrisci again becomes an NFA Member or Associate, he must tape record, for six months, all conversations between himself and existing or potential customers; retain these tapes for one year from the date they are created; and make the tapes available to NFA upon request. The six-month period begins on the date he again becomes an NFA Member or Associate. Only the time he is registered and actively soliciting customers on a full-time basis will be counted in calculating the six-month taping period. If DiCrisci becomes a principal of an NFA Member, he will cause all APs of that firm - and any other firm of which he is a principal - to tape record for six months all conversations that occur between them and existing or potential customers; retain these tapes for one year from the date they are created; and make the tapes available to NFA upon request. The six-month taping requirement applies to each and every firm of which he becomes a principal and will begin on the date he becomes a principal of each firm, respectively. Only the time when he is a principal of that particular firm and that firm is actively soliciting customers will be counted in the six-month calculation and, in any and all events, the taping requirements will expire on December 31, 2008.

Mitchell is permanently barred from NFA membership, NFA associate membership, and from being a principal of any NFA Member. To view Decision, go to Case Documents. For a copy of the Decision, contact NFA.

On May 26, 2005, NFA issued a Complaint charging Wallstreet, DiCrisci and Mitchell with making deceptive and misleading sales solicitations. In addition, the Complaint charged Wallstreet and DiCrisci with making high-pressured sales solicitations and failure to uphold high standards of commercial honor and just and equitable principles of trade. The Complaint also charged Wall Street and DiCrisci with failing to diligently supervise employees and agents in the conduct of their commodity futures activities. To view Complaint, go to Case Documents. For a copy of the Complaint, contact NFA.

ANSWER -

On June 28, 2005, Wallstreet and DiCrisci filed an Answer to the Complaint in which they denied the material allegations contained therein. To view Answer, go to Case Documents.

DECISION -

On December 20, 2005, Wallstreet was permanently barred from reapplying for NFA membership or acting as a principal of an NFA Member. DiCrisci was ordered not to apply for NFA membership or associate membership or act as a principal of an NFA Member for one year. Thereafter, DiCrisci may not act in a supervisory capacity for an additional three years. If, after the one-year ban expires, DiCrisci is granted NFA membership, associate membership, or becomes a principal of an NFA Member, he must pay a $10,000 fine, due and payable 30 days after he is granted NFA membership, associate membership or becomes a principal of an NFA Member.

If DiCrisci again becomes an NFA Member or Associate, he must tape record, for six months, all conversations between himself and existing or potential customers; retain these tapes for one year from the date they are created; and make the tapes available to NFA upon request. The six-month period begins on the date he again becomes an NFA Member or Associate. Only the time he is registered and actively soliciting customers on a full-time basis will be counted in calculating the six-month taping period. If DiCrisci becomes a principal of an NFA Member, he will cause all APs of that firm - and any other firm of which he is a principal - to tape record for six months all conversations that occur between them and existing or potential customers; retain these tapes for one year from the date they are created; and make the tapes available to NFA upon request. The six-month taping requirement applies to each and every firm of which he becomes a principal and will begin on the date he becomes a principal of each firm, respectively. Only the time when he is a principal of that particular firm and that firm is actively soliciting customers will be counted in the six-month calculation and, in any and all events, the taping requirements will expire on December 31, 2008.

Mitchell is permanently barred from NFA membership, NFA associate membership, and from being a principal of any NFA Member. To view Decision, go to Case Documents. For a copy of the Decision, contact NFA.