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For Immediate Release
February 08, 2010
In separate actions, NFA permanently bars futures firms in Puerto Rico and California
February 8, Chicago - National Futures Association (NFA) has permanently barred from NFA membership ACJ Capital, Inc. (ACJ) and its principal, Angel F. Collazo. ACJ is a Commodity Trading Advisor located in San Juan, Puerto Rico. The Decision, issued by NFA's Business Conduct Committee, is based on an NFA Complaint filed in November 2009.
The Committee found that ACJ and Collazo provided false information to customers about the performance of their accounts by providing fictitious account statements which showed significant equity, when in fact, most, if not all of their equity was lost. The Committee also found that ACJ and Collazo failed to observe high standards and equitable principles of trade in the conduct of their foreign currency exchange (forex) business. ACJ and Collazo did not file an Answer to the Complaint nor did they respond to it in any way. The complete text of the Complaint and Decision can be found on NFA's website (www.nfa.futures.org).
In a separate action, NFA permanently barred Michael Williams from NFA membership. Williams is a sole proprietor Commodity Trading Advisor and Commodity Pool Operator located in Woodland Hills, California. The Decision, issued by NFA's Business Conduct Committee, is based on an NFA Complaint filed in December 2009.
The Committee found that Williams failed to cooperate promptly and fully with NFA. Williams neither filed an Answer to the Complaint nor otherwise responded to it in any way. The complete text of the Complaint and Decision can also be found on NFA's website.
ACJ, Collazo and Williams may appeal the Committee's Decisions to NFA's Appeals Committee.
NFA is the premier independent provider of innovative and efficient regulatory programs that safeguard the integrity of the futures markets.