| WEXTRADE COMMODITY MANAGERS LLC |
NFA 09BCC00009 |
NFA ID: 0372119 |
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| 0008714 | ADRIAN, PAUL JAMES | 02/03/2010 | | 0372119 | WEXTRADE COMMODITY MANAGERS LLC | 02/03/2010 |
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| 0008714 | ADRIAN, PAUL JAMES | • C.R.2-9(a) - SUPERVISION OF EMPLOYEES | | 0372119 | WEXTRADE COMMODITY MANAGERS LLC | • C.R.2-2(a) - CHEAT,FRAUD DECEIVE CUSTOMERS | | | | • C.R.2-29(b)(1) - USE OF DECEPTIVE PROMO MATER. | | | | • R.R.206 - REGISTRATION OF APs OF FCMs, IBs, CPOs, CTAs AND LTMs | | | | • C.R.2-29(e) - RECDKEEPING PROMO MATERIALS | | | | • R.R.208 - CHANGES REQUIRING NEW REGISTRATION | | | | • C.R.2-9(a) - SUPERVISION OF EMPLOYEES | | | | • C.R.2-13 - RECORDKEEPING FOR CPOS/CTAS | | | | • C.R.2-29(b)(2) - MISSTATEMT/OMISSION OF FACT PROMP |
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| 0008714 | ADRIAN, PAUL JAMES | • BUSINESS CONDUCT COMMITTEE | | | | • HEARING COMMITTEE | | 0372119 | WEXTRADE COMMODITY MANAGERS LLC | • BUSINESS CONDUCT COMMITTEE | | | | • HEARING COMMITTEE |
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| 0008714 | ADRIAN, PAUL JAMES | • GENERAL CONDUCT | | 0372119 | WEXTRADE COMMODITY MANAGERS LLC | • OFFICE RECORDKEEPING | | | | • SALES PRACTICE | | | | • GENERAL CONDUCT |
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| 0008714 | ADRIAN, PAUL JAMES | • TEMPORARY BAR FROM NFA MEMBERSHIP 3 YRS | 01/19/2010 | | | | • OTHER--SEE NARRATIVE | 01/19/2010 | | | | • TEMPORARY BAR FROM PRINCIPAL STATUS 3 YRS | 01/19/2010 | | | | • TEMPORARY BAR FROM NFA ASSOCIATE MEMBERSHIP 3 YRS | 01/19/2010 | | | | • FINE (CONTINGENT) $50000 | 01/19/2010 | | 0372119 | WEXTRADE COMMODITY MANAGERS LLC | • PERMANENT WITHDRAWAL FROM NFA MEMBERSHIP | 01/19/2010 | | | | • PERMANENT BAR FROM NFA MEMBERSHIP | 01/19/2010 | | | | • PERMANENT BAR FROM PRINCIPAL STATUS | 01/19/2010 |
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| **TO VIEW DOCUMENTS, GO TO CASE DOCUMENTS. FOR A COPY OF DOCUMENTS, CONTACT NFA'S INFORMATION CENTER.**
On May 19, 2009, NFA issued a Complaint charging WCM with commingling pool assets; receipt of funds in unauthorized names or accounts; and failure to provide required information. The Complaint further charged WCM with using deceptive promotional material; failure to review promotional material prior to use; failure to register an AP and failure to list a principal. The Complaint also charged WCM and Adrian with failure to supervise.
ANSWER:
On October 2, 2009, WCM and Adrian filed an Answer to the Complaint in which they denied the material allegations contained therein.
DECISION:
On January 19, 2010, Wextrade was ordered to withdraw its NFA membership effective immediately and never apply for NFA membership or principal status with any NFA Member in the future. Adrian was ordered not to apply for NFA membership, associate NFA membership or principal status with any NFA Member for three years.
If Adrian applies for and is approved for associate NFA membership after the expiration of the three-year bar, he may not be a principal of an NFA Member or act in any manner which would require him to be disclosed as a principal of any NFA Member for an additional three-year period.
If Adrian applies for NFA membership, associate NFA membership or principal status with any NFA Member following the expiration of the three-year bar from NFA membership, associate NFA membership or principal status with any NFA Member, he must pay a $50,000 fine, due and payable in full on or before the date of any such application. | | | |
| **TO VIEW DOCUMENTS, GO TO CASE DOCUMENTS. FOR A COPY OF DOCUMENTS, CONTACT NFA'S INFORMATION CENTER.**
On May 19, 2009, NFA issued a Complaint charging WCM with commingling pool assets; receipt of funds in unauthorized names or accounts; and failure to provide required information. The Complaint further charged WCM with using deceptive promotional material; failure to review promotional material prior to use; failure to register an AP and failure to list a principal. The Complaint also charged WCM and Adrian with failure to supervise.
ANSWER:
On October 2, 2009, WCM and Adrian filed an Answer to the Complaint in which they denied the material allegations contained therein.
DECISION:
On January 19, 2010, Wextrade was ordered to withdraw its NFA membership effective immediately and never apply for NFA membership or principal status with any NFA Member in the future. Adrian was ordered not to apply for NFA membership, associate NFA membership or principal status with any NFA Member for three years.
If Adrian applies for and is approved for associate NFA membership after the expiration of the three-year bar, he may not be a principal of an NFA Member or act in any manner which would require him to be disclosed as a principal of any NFA Member for an additional three-year period.
If Adrian applies for NFA membership, associate NFA membership or principal status with any NFA Member following the expiration of the three-year bar from NFA membership, associate NFA membership or principal status with any NFA Member, he must pay a $50,000 fine, due and payable in full on or before the date of any such application.
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| 0008714 | ADRIAN, PAUL JAMES | ANSWER | | 0008714 | ADRIAN, PAUL JAMES | COMPLAINT | | 0008714 | ADRIAN, PAUL JAMES | DECISION | | 0372119 | WEXTRADE COMMODITY MANAGERS LLC | ANSWER | | 0372119 | WEXTRADE COMMODITY MANAGERS LLC | COMPLAINT | | 0372119 | WEXTRADE COMMODITY MANAGERS LLC | DECISION |
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