Case Summary

NOTICE OF MEMBER RESPONSIBILITY ACTION AND ASSOCIATE RESPONSIBILITY ACTION:

On November 16, 2010, NFA issued a Member Responsibility Action ("MRA") against International Commodity Advisors ("ICA")and an Associate Responsibilty Action ("ARA") against Gregory W. Seitz ("Seitz") and Gustave O. Woehr ("Woehr") whereby:

1. ICA, Seitz and Woehr are prohibited from soliciting or accepting any funds from customers or investors, soliciting investments for any pools or other investment vehicles, or placing any trades on behalf of customers, pools, or investors except liquidating or risk reducing trades;

2. ICA, Seitz and Woehr are prohibited from disbursing or transferring any funds of customers, investors or pools over which they exercise control, or participants in any such pools, without prior approval from NFA;

3. ICA is required to either register with the Commodity Futures Trading Commission as a commodity pool operator (“CPO”) and provide an NFA approved Disclosure Document to the participants in any and all pools operated by ICA, or demonstrate to NFA's satisfaction that CPO registration is not required; and

4. ICA, Seitz and Woehr are required to provide copies of this MRA and ARA via overnight courier to all customers and pool participants in any pool which any of them operates or exercises control over.

These actions are effective immediately and are deemed necessary to protect customers because NFA has reason to believe that ICA is operating or soliciting funds as a CPO without being registered as a CPO and because ICA, Seitz and Woehr have failed to produce books and records and other information that NFA has required of them that are necessary for NFA to determine the nature of ICA’s business and to verify the identities of its customers and pool participants and the value of their investments, and the amount and location of assets.

The MRA and ARA will remain in effect until such time as ICA, Seitz and Woehr demonstrate to the satisfaction of NFA that they are in complete compliance with all NFA Requirements, including, but not limited to, providing NFA with the documents and information required of ICA pursuant to NFA’s audit. Additionally, ICA must also either register as a CPO and provide an approved Disclosure Document to pool participants in any and all pools operated by ICA or demonstrate to NFA's satisfaction that CPO registration is not required.

NOTICE OF MEMBER RESPONSIBILITY ACTION AND ASSOCIATE RESPONSIBILITY ACTION:

On November 16, 2010, NFA issued a Member Responsibility Action ("MRA") against International Commodity Advisors ("ICA")and an Associate Responsibilty Action ("ARA") against Gregory W. Seitz ("Seitz") and Gustave O. Woehr ("Woehr") whereby:

1. ICA, Seitz and Woehr are prohibited from soliciting or accepting any funds from customers or investors, soliciting investments for any pools or other investment vehicles, or placing any trades on behalf of customers, pools, or investors except liquidating or risk reducing trades;

2. ICA, Seitz and Woehr are prohibited from disbursing or transferring any funds of customers, investors or pools over which they exercise control, or participants in any such pools, without prior approval from NFA;

3. ICA is required to either register with the Commodity Futures Trading Commission as a commodity pool operator (“CPO”) and provide an NFA approved Disclosure Document to the participants in any and all pools operated by ICA, or demonstrate to NFA's satisfaction that CPO registration is not required; and

4. ICA, Seitz and Woehr are required to provide copies of this MRA and ARA via overnight courier to all customers and pool participants in any pool which any of them operates or exercises control over.

These actions are effective immediately and are deemed necessary to protect customers because NFA has reason to believe that ICA is operating or soliciting funds as a CPO without being registered as a CPO and because ICA, Seitz and Woehr have failed to produce books and records and other information that NFA has required of them that are necessary for NFA to determine the nature of ICA’s business and to verify the identities of its customers and pool participants and the value of their investments, and the amount and location of assets.

The MRA and ARA will remain in effect until such time as ICA, Seitz and Woehr demonstrate to the satisfaction of NFA that they are in complete compliance with all NFA Requirements, including, but not limited to, providing NFA with the documents and information required of ICA pursuant to NFA’s audit. Additionally, ICA must also either register as a CPO and provide an approved Disclosure Document to pool participants in any and all pools operated by ICA or demonstrate to NFA's satisfaction that CPO registration is not required.

NOTICE OF MEMBER RESPONSIBILITY ACTION AND ASSOCIATE RESPONSIBILITY ACTION:

On November 16, 2010, NFA issued a Member Responsibility Action ("MRA") against International Commodity Advisors ("ICA")and an Associate Responsibilty Action ("ARA") against Gregory W. Seitz ("Seitz") and Gustave O. Woehr ("Woehr") whereby:

1. ICA, Seitz and Woehr are prohibited from soliciting or accepting any funds from customers or investors, soliciting investments for any pools or other investment vehicles, or placing any trades on behalf of customers, pools, or investors except liquidating or risk reducing trades;

2. ICA, Seitz and Woehr are prohibited from disbursing or transferring any funds of customers, investors or pools over which they exercise control, or participants in any such pools, without prior approval from NFA;

3. ICA is required to either register with the Commodity Futures Trading Commission as a commodity pool operator (“CPO”) and provide an NFA approved Disclosure Document to the participants in any and all pools operated by ICA, or demonstrate to NFA's satisfaction that CPO registration is not required; and

4. ICA, Seitz and Woehr are required to provide copies of this MRA and ARA via overnight courier to all customers and pool participants in any pool which any of them operates or exercises control over.

These actions are effective immediately and are deemed necessary to protect customers because NFA has reason to believe that ICA is operating or soliciting funds as a CPO without being registered as a CPO and because ICA, Seitz and Woehr have failed to produce books and records and other information that NFA has required of them that are necessary for NFA to determine the nature of ICA’s business and to verify the identities of its customers and pool participants and the value of their investments, and the amount and location of assets.

The MRA and ARA will remain in effect until such time as ICA, Seitz and Woehr demonstrate to the satisfaction of NFA that they are in complete compliance with all NFA Requirements, including, but not limited to, providing NFA with the documents and information required of ICA pursuant to NFA’s audit. Additionally, ICA must also either register as a CPO and provide an approved Disclosure Document to pool participants in any and all pools operated by ICA or demonstrate to NFA's satisfaction that CPO registration is not required.