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For Immediate Release
December 17, 2008
NFA orders Florida firm, Meridian Commodity Corporation and its principal to permanently withdraw
December 17, Chicago - National Futures Association (NFA) has ordered Meridian Commodity Corporation (MCC), an Introducing Broker located in North Palm Beach, Florida, to permanently withdraw from NFA membership. Robert E. Parker, MCC's principal and an associated person (AP), was permanently barred from NFA membership and from principal status. Parker is also barred from NFA Associate membership for a period of five years. In the event that Parker obtains NFA Associate membership following the five year bar, he must pay a fine of $100,000. George D. Lewis, another AP of MCC, was ordered to terminate his NFA Associate membership and never reapply again. The Decision, issued by an NFA Hearing Panel, is based on a Complaint filed in April 2008 and settlement offers submitted by MCC, Parker and Lewis, which were made without admitting or denying the allegations made against them.
The Complaint charged that MCC allowed an unregistered individual to act in a capacity that required registration as an AP. The Complaint also charged that Parker failed to uphold high standards of commercial honor and equitable principles of trade by manipulating the composition of MCC's sales staff to avoid having to undertake NFA's enhanced supervisory requirement. Additionally, the Complaint alleged that MCC and Parker submitted false and misleading information to NFA and that they failed to diligently supervise their employees in the conduct of their commodity futures activities. Finally, the Complaint charged that MCC and Lewis made deceptive and misleading sales solicitations.
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