| DILIGENT MANAGEMENT LLC |
NFA 10BCC00031 |
NFA ID: 0399324 |
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| 0400372 | BRYCE, SCOTT L | 02/07/2011 | | 0399324 | DILIGENT MANAGEMENT LLC | 02/07/2011 |
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| 0400372 | BRYCE, SCOTT L | • C.R.2-5 - FAILURE TO COOPERATE W/ NFA | | | | • C.R.2-13 - RECORDKEEPING FOR CPOS/CTAS | | | | • C.R.2-2(f) - FALSE INFORMATION TO NFA/AGENTS | | 0399324 | DILIGENT MANAGEMENT LLC | • C.R.2-13 - RECORDKEEPING FOR CPOS/CTAS | | | | • C.R.2-5 - FAILURE TO COOPERATE W/ NFA | | | | • C.R.2-2(f) - FALSE INFORMATION TO NFA/AGENTS |
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| 0400372 | BRYCE, SCOTT L | • BUSINESS CONDUCT COMMITTEE | | | | • HEARING COMMITTEE | | 0399324 | DILIGENT MANAGEMENT LLC | • BUSINESS CONDUCT COMMITTEE | | | | • HEARING COMMITTEE |
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| 0400372 | BRYCE, SCOTT L | • GENERAL CONDUCT | | 0399324 | DILIGENT MANAGEMENT LLC | • GENERAL CONDUCT |
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| 0400372 | BRYCE, SCOTT L | • OTHER--SEE NARRATIVE | 01/21/2011 | | | | • TEMPORARY BAR FROM NFA MEMBERSHIP 3 YRS | 01/21/2011 | | | | • TEMPORARY BAR FROM NFA ASSOCIATE MEMBERSHIP 3 YRS | 01/21/2011 | | | | • TEMPORARY BAR FROM PRINCIPAL STATUS 3 YRS | 01/21/2011 | | | | • FINE (CONTINGENT) $30000 | 01/21/2011 | | | | • WITHDRAW FROM NFA ASSOCIATE MEMBERSHIP | 01/21/2011 | | 0399324 | DILIGENT MANAGEMENT LLC | • PERMANENT BAR FROM PRINCIPAL STATUS | 01/21/2011 | | | | • PERMANENT BAR FROM NFA MEMBERSHIP | 01/21/2011 | | | | • PERMANENT BAR FROM NFA ASSOCIATE MEMBERSHIP | 01/21/2011 | | | | • WITHDRAW FROM MEMBERSHIP 30 DAYS | 01/21/2011 | | | | • OTHER--SEE NARRATIVE | 01/21/2011 |
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| **TO VIEW DOCUMENTS, GO TO CASE DOCUMENTS. FOR A COPY OF DOCUMENTS, CONTACT NFA'S INFORMATION CENTER.**
COMPLAINT:
On October 27, 2010, NFA issued a Complaint charging DM and Bryce with use of a deficient disclosure document; willful submission of materially false or misleading information to NFA; and failure to cooperate promptly and fully with NFA in its investigation.
ANSWER:
On November 26, 2010, Bryce filed an Answer to the Complaint in which he denied the material allegations contained therein.
DECISION:
On January 21, 2011, pursuant to a settlement offer submitted by DM and Bryce, DM and Bryce were ordered to withdraw from NFA membership and associate membership, respectively, within 30 days of the date of the Decision. DM was permanently barred from NFA membership, associate membership and principal status with any NFA Member. Bryce was barred from NFA membership, associate membership or principal status with any NFA Member for three years from the date of his withdrawal from NFA.
In addition, in the event Bryce is granted NFA membership, associate membership or principal status with any NFA Member at any time in the future, he was ordered to pay a $30,000 fine, due in full within thirty days of being granted NFA membership, associate membership or principal status with any NFA Member.
Bryce and DM were further ordered to liquidate all commodity futures and forex holdings of BCF on or before January 1, 2011, and Bryce was ordered not to operate any commodity futures or forex pools, exempt or otherwise during the three-year period in which he is barred from NFA membership, associate membership and principal status with any NFA Member. | | | |
| **TO VIEW DOCUMENTS, GO TO CASE DOCUMENTS. FOR A COPY OF DOCUMENTS, CONTACT NFA'S INFORMATION CENTER.**
COMPLAINT:
On October 27, 2010, NFA issued a Complaint charging DM and Bryce with use of a deficient disclosure document; willful submission of materially false or misleading information to NFA; and failure to cooperate promptly and fully with NFA in its investigation.
ANSWER:
On November 26, 2010, DM filed an Answer to the Complaint in which the firm denied the material allegations contained therein.
DECISION:
On January 21, 2011, pursuant to a settlement offer submitted by DM and Bryce, DM and Bryce were ordered to withdraw from NFA membership and associate membership, respectively, within 30 days of the date of the Decision. DM was permanently barred from NFA membership, associate membership and principal status with any NFA Member. Bryce was barred from NFA membership, associate membership or principal status with any NFA Member for three years from the date of his withdrawal from NFA.
In addition, in the event Bryce is granted NFA membership, associate membership or principal status with any NFA Member at any time in the future, he was ordered to pay a $30,000 fine, due in full within thirty days of being granted NFA membership, associate membership or principal status with any NFA Member.
Bryce and DM were further ordered to liquidate all commodity futures and forex holdings of BCF on or before January 1, 2011, and Bryce was ordered not to operate any commodity futures or forex pools, exempt or otherwise during the three-year period in which he is barred from NFA membership, associate membership and principal status with any NFA Member. | | |
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