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For Immediate Release
October 26, 2006
NFA suspends Florida firm and permanently bars three of its associated persons; suspends others
October 26, Chicago - National Futures Association has suspended FutureTech Trading Group, Inc., an Introducing Broker located in Delray Beach, Florida, from NFA membership for a period of two years. In the event that FutureTech is granted NFA membership or becomes a principal of an NFA Member after the suspension period has expired, FutureTech will be required to pay a $50,000 fine. NFA has also permanently barred from membership James V. Eulo, Russell J. Diaz and Adam S. Mills, all associated persons (APs) of FutureTech. NFA also suspended and fined several other FutureTech APs, including FutureTech's owner and principal, Jimi R. Jalil.
The Decision, issued by an NFA Hearing Panel, is based on the charges contained in an NFA Complaint filed in July 2005, and contained findings that FutureTech and a number of its APs made deceptive and misleading sale solicitations. In addition, the Decision contained findings that FutureTech used a high pressure sales approach in soliciting customers and that FutureTech and Jalil failed to diligently supervise their employees.
The complete text of the Complaint and Decision can be found on NFA's Web site (www.nfa.futures.org).
NFA is the premier independent provider of efficient and innovative regulatory programs that safeguard the integrity of the derivatives markets.