| VISTA TRADING ADVISORS INC |
NFA 10BCC00021 |
NFA ID: 0397384 |
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| 0404828 | GOLDBERGER, SETH | 02/04/2011 | | 0359974 | MEYER, MATTHEW ELLIOT | 03/01/2011 | | 0397384 | VISTA TRADING ADVISORS INC | 03/01/2011 | | 0397655 | ZOFAY, FRANCIS KURT RYAN | 02/04/2011 |
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| 0404828 | GOLDBERGER, SETH | • C.R.2-4 - HIGH STDS. OF COMMERCIAL HONOR | | | | • C.R.2-2(a) - CHEAT,FRAUD DECEIVE CUSTOMERS | | | | • C.R.2-29(a)(1) - FRAUDULENT COMM. TO PUBLIC PROHIB. | | 0359974 | MEYER, MATTHEW ELLIOT | • C.R.2-4 - HIGH STDS. OF COMMERCIAL HONOR | | | | • C.R.2-9(a) - SUPERVISION OF EMPLOYEES | | | | • C.R.2-29(a)(1) - FRAUDULENT COMM. TO PUBLIC PROHIB. | | | | • C.R.2-2(a) - CHEAT,FRAUD DECEIVE CUSTOMERS | | 0397384 | VISTA TRADING ADVISORS INC | • C.R.2-9(a) - SUPERVISION OF EMPLOYEES | | | | • C.R.2-2(a) - CHEAT,FRAUD DECEIVE CUSTOMERS | | | | • C.R.2-29(a)(1) - FRAUDULENT COMM. TO PUBLIC PROHIB. | | | | • C.R.2-4 - HIGH STDS. OF COMMERCIAL HONOR | | 0397655 | ZOFAY, FRANCIS KURT RYAN | • C.R.2-4 - HIGH STDS. OF COMMERCIAL HONOR | | | | • C.R.2-2(a) - CHEAT,FRAUD DECEIVE CUSTOMERS | | | | • C.R.2-29(a)(1) - FRAUDULENT COMM. TO PUBLIC PROHIB. |
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| 0404828 | GOLDBERGER, SETH | • BUSINESS CONDUCT COMMITTEE | | | | • HEARING COMMITTEE | | 0359974 | MEYER, MATTHEW ELLIOT | • HEARING COMMITTEE | | | | • BUSINESS CONDUCT COMMITTEE | | 0397384 | VISTA TRADING ADVISORS INC | • BUSINESS CONDUCT COMMITTEE | | | | • HEARING COMMITTEE | | 0397655 | ZOFAY, FRANCIS KURT RYAN | • BUSINESS CONDUCT COMMITTEE | | | | • HEARING COMMITTEE |
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| 0404828 | GOLDBERGER, SETH | • GENERAL CONDUCT | | | | • SALES PRACTICE | | 0359974 | MEYER, MATTHEW ELLIOT | • SALES PRACTICE | | | | • GENERAL CONDUCT | | 0397384 | VISTA TRADING ADVISORS INC | • GENERAL CONDUCT | | | | • SALES PRACTICE | | 0397655 | ZOFAY, FRANCIS KURT RYAN | • GENERAL CONDUCT | | | | • SALES PRACTICE |
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| 0404828 | GOLDBERGER, SETH | • REQUIRED TO TAPE RECORD 6 MTHS | 01/20/2011 | | | | • TEMPORARY BAR FROM NFA MEMBERSHIP 2 YRS | 01/20/2011 | | | | • TEMPORARY BAR FROM PRINCIPAL STATUS 2 YRS | 01/20/2011 | | | | • TEMPORARY WITHDRAWAL FROM NFA ASSOCIATE MEMBERSHIP 2 YRS | 01/20/2011 | | | | • FINE (CONTINGENT) $20000 | 01/20/2011 | | 0359974 | MEYER, MATTHEW ELLIOT | • TEMPORARY BAR FROM NFA MEMBERSHIP 5 YRS | 02/14/2011 | | | | • TEMPORARY WITHDRAWAL FROM NFA ASSOCIATE MEMBERSHIP 5 YRS | 02/14/2011 | | | | • TEMPORARY BAR FROM NFA ASSOCIATE MEMBERSHIP 5 YRS | 02/14/2011 | | | | • TEMPORARY WITHDRAWAL FROM PRINCIPAL STATUS 5 YRS | 02/14/2011 | | | | • TEMPORARY BAR FROM PRINCIPAL STATUS 5 YRS | 02/14/2011 | | | | • REQUIRED TO TAPE RECORD 6 MTHS | 02/14/2011 | | | | • FINE (CONTINGENT) $25000 | 02/14/2011 | | 0397384 | VISTA TRADING ADVISORS INC | • PERMANENT BAR FROM PRINCIPAL STATUS | 02/14/2011 | | | | • PERMANENT BAR FROM NFA MEMBERSHIP | 02/14/2011 | | 0397655 | ZOFAY, FRANCIS KURT RYAN | • TEMPORARY WITHDRAWAL FROM PRINCIPAL STATUS 4 YRS | 01/20/2011 | | | | • TEMPORARY WITHDRAWAL FROM NFA ASSOCIATE MEMBERSHIP 4 YRS | 01/20/2011 | | | | • TEMPORARY BAR FROM PRINCIPAL STATUS 4 YRS | 01/20/2011 | | | | • FINE (CONTINGENT) $15000 | 01/20/2011 | | | | • REQUIRED TO TAPE RECORD 6 MTHS | 01/20/2011 |
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| **TO VIEW DOCUMENTS, GO TO CASE DOCUMENTS. FOR A COPY OF DOCUMENTS, CONTACT NFA'S INFORMATION CENTER.**
COMPLAINT:
On August 10, 2010, NFA issued a Complaint charging VTA, Meyer, Goldberger and Zofay with making deceptive and misleading sales solicitations and failure to uphold high standards of commercial honor and just and equitable principles of trade. The Complaint also charged VTA and Meyer with failure to supervise.
ANSWER:
On August 10, 2010, Goldberger filed an Answer to the Complaint in which he denied the material allegations contained therein.
DECISION:
On January 20, 2011, pursuant to settlement offers submitted by Zofay and Goldberger, Zofay was ordered to terminate his NFA associate membership and principal status with an NFA Member no later than the termination of OTG's membership and not apply for NFA membership, associate membership or principal status with any NFA Member for four years following the date of termination of his NFA associate membership. Goldberger was ordered to terminate his NFA associate membership no later than the termination of OTG's NFA membership and not apply for NFA membership, associate membership or principal status with any NFA Member for two years following the date of termination of his associate membership.
Zofay and Goldberger were also ordered to make audio recordings of all conversations with customers and prospective customers for six months. In addition, they shall cause all APs sponsored by any Member of which they are a principal to make audio recordings of all conversations with customers and prospective customers. Zofay and Goldberger must promptly produce all recordings to NFA in a manner in which the participants and dates of the conversations can be readily identified. Only periods when Zofay and Goldberger are an NFA Member, associate member or a principal of an NFA Member will be counted.
Should Zofay apply for NFA membership, associate membership or principal status with any NFA Member following the expiration of the four-year period during which he may not apply for NFA membership, associate membership or principal status with any NFA Member, he was ordered to pay a $15,000 fine. Should Goldberger apply for NFA membership, associate membership or principal status with any NFA Member following the expiration of the two-year period during which he may not apply for NFA membership, associate membership or principal status with any NFA Member, he was ordered to pay a $20,000 fine. The fines are due and payable in full on or before the date of any such application. Any future application by Zofay or Goldberger for NFA membership, associate membership or principal status with any NFA Member will not be considered or approved unless their fine has been paid in full.
This Decision is in conjunction with NFA Case No. 10-BCC-020.
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| **TO VIEW DOCUMENTS, GO TO CASE DOCUMENTS. FOR A COPY OF DOCUMENTS, CONTACT NFA'S INFORMATION CENTER.**
COMPLAINT:
On August 10, 2010, NFA issued a Complaint charging VTA, Meyer, Goldberger and Zofay with making deceptive and misleading sales solicitations and failure to uphold high standards of commercial honor and just and equitable principles of trade. The Complaint also charged VTA and Meyer with failure to supervise.
ANSWER:
On September 24, 2010, VTA and Meyer filed an Answer to the Complaint in which they denied the material allegations contained therein.
DECISION:
On February 14, 2011, pursuant to a settlement offer submitted by VTA and Meyer, VTA's NFA membership was terminated effective immediately upon the effective date of the Decision and VTA was ordered to never apply for NFA membership or principal status with any NFA Member in the future. Meyer's NFA associate membership and principal status with an NFA Member was terminated effective immediately upon the effective date of the Decision and Meyer was ordered not to apply for NFA membership, associate membership or principal status with any NFA Member for five years following the date of termination of his NFA associate membership and principal status with an NFA Member.
Meyer was also ordered to make audio recordings of all conversations with customers and prospective customers for six months. In addition, he shall cause all APs sponsored by any Member of which he is a principal to make audio recordings of all conversations with customers and prospective customers. Meyer must promptly produce all recordings to NFA in a manner in which the participants and dates of the conversations can be readily identified. Only periods when Meyer is an NFA Member, Associate Member or a principal of an NFA Member will be counted.
Should Meyer apply for NFA membership, associate membership or principal status with any NFA Member following the expiration of the five-year period during which he may not apply for NFA membership, associate membership or principal status with any NFA Member, he was ordered to pay a $25,000 fine. The fine is due and payable in full on or before the date of any such application. Any future application by Meyer for NFA membership, associate membership or principal status with any NFA Member will not be considered or approved unless his fine has been paid in full.
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| **TO VIEW DOCUMENTS, GO TO CASE DOCUMENTS. FOR A COPY OF DOCUMENTS, CONTACT NFA'S INFORMATION CENTER.**
COMPLAINT:
On August 10, 2010, NFA issued a Complaint charging VTA, Meyer, Goldberger and Zofay with making deceptive and misleading sales solicitations and failure to uphold high standards of commercial honor and just and equitable principles of trade. The Complaint also charged VTA and Meyer with failure to supervise.
ANSWER:
On September 24, 2010, VTA and Meyer filed an Answer to the Complaint in which they denied the material allegations contained therein.
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| **TO VIEW DOCUMENTS, GO TO CASE DOCUMENTS. FOR A COPY OF DOCUMENTS, CONTACT NFA'S INFORMATION CENTER.**
COMPLAINT:
On August 10, 2010, NFA issued a Complaint charging VTA, Meyer, Goldberger and Zofay with making deceptive and misleading sales solicitations and failure to uphold high standards of commercial honor and just and equitable principles of trade. The Complaint also charged VTA and Meyer with failure to supervise.
ANSWER:
On August 10, 2010, Zofay filed an Answer to the Complaint in which he denied the material allegations contained therein.
DECISION:
On January 20, 2011, pursuant to settlement offers submitted by Zofay and Goldberger, Zofay was ordered to terminate his NFA associate membership and principal status with an NFA Member no later than the termination of OTG's membership and not apply for NFA membership, associate membership or principal status with any NFA Member for four years following the date of termination of his NFA associate membership. Goldberger was ordered to terminate his NFA associate membership no later than the termination of OTG's NFA membership and not apply for NFA membership, associate membership or principal status with any NFA Member for two years following the date of termination of his associate membership.
Zofay and Goldberger were also ordered to make audio recordings of all conversations with customers and prospective customers for six months. In addition, they shall cause all APs sponsored by any Member of which they are a principal to make audio recordings of all conversations with customers and prospective customers. Zofay and Goldberger must promptly produce all recordings to NFA in a manner in which the participants and dates of the conversations can be readily identified. Only periods when Zofay and Goldberger are an NFA Member, associate member or a principal of an NFA Member will be counted.
Should Zofay apply for NFA membership, associate membership or principal status with any NFA Member following the expiration of the four-year period during which he may not apply for NFA membership, associate membership or principal status with any NFA Member, he was ordered to pay a $15,000 fine. Should Goldberger apply for NFA membership, associate membership or principal status with any NFA Member following the expiration of the two-year period during which he may not apply for NFA membership, associate membership or principal status with any NFA Member, he was ordered to pay a $20,000 fine. The fines are due and payable in full on or before the date of any such application. Any future application by Zofay or Goldberger for NFA membership, associate membership or principal status with any NFA Member will not be considered or approved unless their fine has been paid in full.
This Decision is in conjunction with NFA Case No. 10-BCC-020.
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