| MASTER CAPITAL GROUP CORPORATION |
NFA 06BCC00031 |
NFA ID: 0346751 |
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| 0308927 | DEKHTYAR, ALEX | 05/04/2007 | | 0353244 | FIROZ, IMRAN | 05/04/2007 | | 0346751 | MASTER CAPITAL GROUP CORPORATION | 05/04/2007 |
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| 0308927 | DEKHTYAR, ALEX | • C.R.2-36(e) - FOREX DEALER MEMBERS SUPERVISION OF EMPLOYEES | | 0353244 | FIROZ, IMRAN | • C.R.2-36(e) - FOREX DEALER MEMBERS SUPERVISION OF EMPLOYEES | | | | • C.R.2-36(b)(1) - CHEAT, DEFRAUD, DECEIVE FOREX CUSTOMERS | | 0346751 | MASTER CAPITAL GROUP CORPORATION | • C.R.2-36(e) - FOREX DEALER MEMBERS SUPERVISION OF EMPLOYEES | | | | • C.R.2-9(c) - ANTI-MONEY LAUNDERING PROGRAM | | | | • C.R.2-36(b)(1) - CHEAT, DEFRAUD, DECEIVE FOREX CUSTOMERS | | | | • R.R.208 - CHANGES REQUIRING NEW REGISTRATION | | | | • R.R.204(a)(2) - FAILURE TO FILE FORM 8-R FOR PRIN | | | | • C.R.2-36(c) - FOREX DEALER MEMBERS OBSERVE HIGH STDS OF COMMERCIAL HONOR |
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| 0308927 | DEKHTYAR, ALEX | • HEARING COMMITTEE | | | | • BUSINESS CONDUCT COMMITTEE | | 0353244 | FIROZ, IMRAN | • BUSINESS CONDUCT COMMITTEE | | | | • HEARING COMMITTEE | | 0346751 | MASTER CAPITAL GROUP CORPORATION | • HEARING COMMITTEE | | | | • BUSINESS CONDUCT COMMITTEE |
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| 0308927 | DEKHTYAR, ALEX | • GENERAL CONDUCT | | 0353244 | FIROZ, IMRAN | • GENERAL CONDUCT | | | | • SALES PRACTICE | | 0346751 | MASTER CAPITAL GROUP CORPORATION | • SALES PRACTICE | | | | • GENERAL CONDUCT | | | | • REGISTRATION |
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| 0308927 | DEKHTYAR, ALEX | • FINE (JOINTLY AND SEVERALLY) $100000 | 04/19/2007 | | 0353244 | FIROZ, IMRAN | • FINE (JOINTLY AND SEVERALLY) $100000 | 04/19/2007 | | 0346751 | MASTER CAPITAL GROUP CORPORATION | • FINE (JOINTLY AND SEVERALLY) $100000 | 04/19/2007 | | | | • SUBMIT PROMOTIONAL MATERIAL TO NFA INDF | 04/19/2007 |
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| **TO VIEW DOCUMENTS, GO TO CASE DOCUMENTS. FOR COPY OF DOCUMENTS, CONTACT NFA'S INFORMATION CENTER.**
COMPLAINT -
On October 19, 2006, NFA issued an Amended Complaint charging FINI with failure to make timely filings disclosing principals; failure to uphold high standards of commercial honor and just and equitable principles of trade; and failure to initiate an adequate AML program. In addition, the Complaint charged FINI and Firoz with cheating, defrauding or deceiving another person or attempting to do so. Finally, the Complaint charged FINI, Firoz and DeKhtyar with failure to supervise.
ANSWER -
On December 5, 2006, FINI, Firoz and DeKhtyar filed an Answer to the Complaint in which they denied the material allegations contained therein.
DECISION -
On April 19, 2007, FINI, Firoz and DeKhtyar were ordered to be jointly and severally liable for a $100,000 fine. FINI was also ordered, beginning May 19, 2007 and subject to all other applicable NFA and CFTC requirements, to maintain ANC equal to or in excess of $2,000,000. It was further ordered that neither FINI nor any entity, whether registered with the CFTC or not, that solicits the public to transact business with or through FINI, to use promotional material unless such material has been specifically approved by NFA prior to its use.
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| **TO VIEW DOCUMENTS, GO TO CASE DOCUMENTS. FOR COPY OF DOCUMENTS, CONTACT NFA'S INFORMATION CENTER.**
COMPLAINT -
On October 19, 2006, NFA issued an Amended Complaint charging FINI with failure to make timely filings disclosing principals; failure to uphold high standards of commercial honor and just and equitable principles of trade; and failure to initiate an adequate AML program. In addition, the Complaint charged FINI and Firoz with cheating, defrauding or deceiving another person or attempting to do so. Finally, the Complaint charged FINI, Firoz and DeKhtyar with failure to supervise.
ANSWER -
On December 5, 2006, FINI, Firoz and Dekhtyar filed an Answer to the Complaint in which they denied the material allegations contained therein.
DECISION -
On April 19, 2007, FINI, Firoz and DeKhtyar were ordered to be jointly and severally liable for a $100,000 fine. FINI was also ordered, beginning May 19, 2007 and subject to all other applicable NFA and CFTC requirements, to maintain ANC equal to or in excess of $2,000,000. It was further ordered that neither FINI nor any entity, whether registered with the CFTC or not, that solicits the public to transact business with or through FINI, to use promotional material unless such material has been specifically approved by NFA prior to its use.
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| **TO VIEW DOCUMENTS, GO TO CASE DOCUMENTS. FOR COPY OF DOCUMENTS, CONTACT NFA'S INFORMATION CENTER.**
COMPLAINT -
On October 19, 2006, NFA issued an Amended Complaint charging FINI with failure to make timely filings disclosing principals; failure to uphold high standards of commercial honor and just and equitable principles of trade; and failure to initiate an adequate AML program. In addition, the Complaint charged FINI and Firoz with cheating, defrauding or deceiving another person or attempting to do so. Finally, the Complaint charged FINI, Firoz and DeKhtyar with failure to supervise.
ANSWER -
On December 5, 2006, FINI, Firoz and Dekhtyar filed an Answer to the Complaint in which they denied the material allegations contained therein.
DECISION -
On April 19, 2007, FINI, Firoz and DeKhtyar were ordered to be jointly and severally liable for a $100,000 fine. FINI was also ordered, beginning May 19, 2007 and subject to all other applicable NFA and CFTC requirements, to maintain ANC equal to or in excess of $2,000,000. It was further ordered that neither FINI nor any entity, whether registered with the CFTC or not, that solicits the public to transact business with or through FINI, to use promotional material unless such material has been specifically approved by NFA prior to its use.
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