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For Immediate Release
November 20, 2007
NFA suspends H. Tony Cantillo, a former associated person of American Atlantic Financial Corp.
November 20, Chicago - National Futures Association (NFA) has suspended H. Tony Cantillo (Cantillo), a former associated person of American Atlantic Financial Corp. (American Atlantic), from NFA associate membership for a period of one year. American Atlantic is an Introducing Broker located in Fort Lauderdale, Florida. The Decision, issued by an NFA Hearing Panel, is based on a Complaint filed in April 2007 and a settlement offer submitted by Cantillo.
The Panel found that Cantillo made misleading sales solicitations to an NFA Compliance staff member, who posed as a prospective customer. Cantillo exaggerated profit potential, downplayed the risk of loss in trading and failed to disclose that 90% of American Atlantic's customers lost money.
In the event that Cantillo becomes an NFA Member after the expiration of the one year membership bar, Cantillo must pay a fine of $5,000 and must tape record all conversations between him and existing or potential customers for a period of six months.
NFA is the premier independent provider of innovative and efficient regulatory programs that safeguard the integrity of the derivatives markets.