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For Immediate Release
July 16, 2009
NFA bars Kaye Simone White-Webster, associated person of Florida firm Global Trading Center LLC
July 16, Chicago - National Futures Association has barred Kaye Simone White-Webster, an associated person (AP) of Global Trading Center LLC (Global Trading), from NFA membership for a period of five years. Global Trading is an Introducing Broker located in Boca Raton, Florida. White-Webster must pay a $10,000 fine and is required to tape record her conversations with existing and potential customers for a period of one year in the event that she reapplies for NFA membership after the expiration of the five-year bar. The Decision, issued by an NFA Hearing Panel, is based on an NFA Complaint filed in October 2008 and a settlement offer submitted by White-Webster.
The Panel found that White-Webster had made misleading sales solicitations to customers and used high-pressure sales tactics urging customers to "get in now" and invest immediately. White-Webster recommended trading strategies that served only to increase the amount of commissions and fees Global Trading had received. Additionally, the Panel found that White-Webster failed to disclose that most of her and Global Trading's customers had lost money.
NFA is the premier independent provider of innovative and efficient regulatory programs that safeguard the integrity of the futures markets.