| JON MADSEN |
NFA 12BCC00028 |
NFA ID: 0425154 |
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| 0424713 | FX DIVERSIFIED LLC | 11/07/2012 | | 0425154 | MADSEN, JON | 11/07/2012 |
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| 0424713 | FX DIVERSIFIED LLC | • BLAW301(b) - REGISTRATION OF APS AS ASSOCIATES | | | | • C.R.2-39 - SOLICITING, INTRODUCING, OR MANAGING OFF-EXCHANGE RETAIL FOREX TRANSACTIONS OR ACCOUNTS | | | | • R.R.208 - CHANGES REQUIRING NEW REGISTRATION | | | | • C.R.2-13 - RECORDKEEPING FOR CPOS/CTAS | | | | • C.R.2-36 - FOREX ANTI-FRAUD RULE | | 0425154 | MADSEN, JON | • C.R.2-39 - SOLICITING, INTRODUCING, OR MANAGING OFF-EXCHANGE RETAIL FOREX TRANSACTIONS OR ACCOUNTS |
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| 0424713 | FX DIVERSIFIED LLC | • BUSINESS CONDUCT COMMITTEE | | 0425154 | MADSEN, JON | • BUSINESS CONDUCT COMMITTEE |
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| 0424713 | FX DIVERSIFIED LLC | • GENERAL CONDUCT | | | | • REGISTRATION | | 0425154 | MADSEN, JON | • GENERAL CONDUCT |
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| 0424713 | FX DIVERSIFIED LLC | • PERMANENT BAR FROM PRINCIPAL STATUS | 10/23/2012 | | | | • PERMANENT BAR FROM NFA MEMBERSHIP | 10/23/2012 | | 0425154 | MADSEN, JON | • PERMANENT BAR FROM NFA MEMBERSHIP | 10/23/2012 | | | | • PERMANENT BAR FROM NFA ASSOCIATE MEMBERSHIP | 10/23/2012 | | | | • PERMANENT BAR FROM PRINCIPAL STATUS | 10/23/2012 |
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| **TO VIEW DOCUMENTS, GO TO CASE DOCUMENTS.**
COMPLAINT:
On October 4, 2012, NFA issued a Complaint charging FXD with allowing an unregistered individual to act in a capacity requiring registration as an AP; failing to list a principal; failing to correct material inaccuracies in the firm's disclosure document; failing to accurately present hypothetical and proprietary performance results in the firm's disclosure document; and using deceptive, misleading and unbalanced promotional material. The Complaint also charged FXD and Madsen with failing to uphold high standards of commercial honor and just and equitable principles of trade and failing to diligently supervise.
DECISION:
On October 23, 2012, pursuant to a settlement offer submitted by FXD and Madsen, FXD was order not to apply for NFA membership or principal status with any NFA Member at any time in the future. Madsen was ordered not to apply for NFA membership, associate membership or principal status with any NFA Member at any time in the future. | | | |
| **TO VIEW DOCUMENTS, GO TO CASE DOCUMENTS.**
COMPLAINT:
On October 4, 2012, NFA issued a Complaint charging FXD with allowing an unregistered individual to act in a capacity requiring registration as an AP; failing to list a principal; failing to correct material inaccuracies in the firm's disclosure document; failing to accurately present hypothetical and proprietary performance results in the firm's disclosure document; and using deceptive, misleading and unbalanced promotional material. The Complaint also charged FXD and Madsen with failing to uphold high standards of commercial honor and just and equitable principles of trade and failing to diligently supervise.
DECISION:
On October 23, 2012, pursuant to a settlement offer submitted by FXD and Madsen, FXD was order not to apply for NFA membership or principal status with any NFA Member at any time in the future. Madsen was ordered not to apply for NFA membership, associate membership or principal status with any NFA Member at any time in the future. | | |
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