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For Immediate Release
April 25, 2006
NFA permanently bars Florida futures firm and suspends firm's principal and an associate
April 25, Chicago - National Futures Association has permanently barred from membership Investor One Financial Corp., an introducing broker located in West Palm Beach, Florida, and issued a six month suspension to Mauricio Batlle, the firm's principal and an Associate Member of NFA. NFA also issued a six month suspension to Edward A. Tamimi, an associated person of the firm. The Decision, issued by NFA's Hearing Committee, is based on the charges contained in an NFA Complaint filed in May 2005, and a settlement offer submitted by Investor One, Batlle and Tamimi.
The NFA Complaint charged that Investor One, Batlle and Tamimi made deceptive, misleading and high-pressured sales solicitations, which included exaggerated profit claims. In addition, the Complaint charged Investor One and Tamimi with encouraging a customer to inflate his net worth and Investor One and Batlle with failure to adequately supervisor Investor One's sales force. The complete text of the Complaint and Decision can be found on NFA's Web site (www.nfa.futures.org).
In addition to their suspensions, Batlle and Tamimi were fined $7,500 and $5,000 respectively, and both were ordered to tape record all conversations with customers for six months after their suspensions are served. Tamimi's suspension from NFA membership and associate membership commenced on April 21. Batlle's suspension will become effective on June 1, 2006.
NFA is the premier independent provider of efficient and innovative regulatory programs that safeguard the integrity of the derivatives markets.