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NOTICE OF MEMBER RESPONSIBILITY ACTION AND ASSOCIATE RESPONSIBILITY ACTION:
On December 7, 2010, NFA issued a Member Responsibility Action ("MRA") against Profitstars Intl Corp. ("PSI") and an Associate Responsibility Action ("ARA") against Ulysis Starling ("Starling") whereby:
1. PSI and Starling 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. PSI and Starling 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. PSI is required to provide an NFA approved Disclosure Document (“DD”) to its customers or investors; and
4. PSI and Starling 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 of PSI because PSI is doing business with an unregulated forex counterparty, PSI's customers have not been provided with a DD approved by NFA, and Starling and PSI are unable to produce to NFA adequate books and records regarding their forex business and other information which would demonstrate that the firm is in compliance with NFA Requirements.
The MRA and ARA will remain in effect until such time as PSI and Starling can demonstrate to the satisfaction of NFA that they are in complete compliance with all NFA Requirements.