Case Summary

AK FINANCIAL HOLDINGS INC NFA 16BCC00002 NFA ID: 0468072

 Respondent/Effective Date Summary 
 NFA IDRespondentEffective Date
 0468072AK FINANCIAL HOLDINGS INC05/13/2016
 0332235KIM, ANDI05/13/2016
 Rule Summary 
 NFA IDRespondentRule Type
 0468072AK FINANCIAL HOLDINGS INC• C.R.2-9(a) - SUPERVISION OF EMPLOYEES
  • C.R.2-4 - HIGH STDS. OF COMMERCIAL HONOR
  • C.R.2-45 - PROHIBITION OF LOANS BY COMMODITY POOLS TO CPOS AND AFFILIATED ENTITIES
 0332235KIM, ANDI• C.R.2-9(a) - SUPERVISION OF EMPLOYEES
  • C.R.2-4 - HIGH STDS. OF COMMERCIAL HONOR
 Committee Summary 
 NFA IDRespondentCommittee
 0468072AK FINANCIAL HOLDINGS INC• HEARING COMMITTEE
  • BUSINESS CONDUCT COMMITTEE
 0332235KIM, ANDI• BUSINESS CONDUCT COMMITTEE
  • HEARING COMMITTEE
 Action Summary 
 NFA IDRespondentAction Types
 0468072AK FINANCIAL HOLDINGS INC• GENERAL CONDUCT
 0332235KIM, ANDI• GENERAL CONDUCT
 Penalty/Event Summary 
 NFA IDRespondentPenalty/EventEvent Date
 0468072AK FINANCIAL HOLDINGS INC• WITHDRAW FROM MEMBERSHIP04/28/2016
 0332235KIM, ANDI• WITHDRAW FROM NFA ASSOCIATE MEMBERSHIP04/28/2016
 Narrative Summary 
Narrative for 0468072 - AK FINANCIAL HOLDINGS INC
TO VIEW THE DOCUMENTS LISTED BELOW, GO TO CASE DOCUMENTS. TO OBTAIN A COPY, CONTACT NFA'S INFORMATION CENTER.

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COMPLAINT:

On February 24, 2016, NFA's Business Conduct Committee (BCC) issued a Complaint to AK Financial Holdings, Inc. (AK Financial) and Andi Kim (Kim). The BCC Complaint charges that AK Financial facilitated prohibited loans, and that AK Financial and Kim failed to supervise and uphold high standards of commercial honor and just and equitable principles of trade.

ANSWER TO COMPLAINT:

On March 24, 2016, AK Financial and Kim filed an Answer to the Complaint in which they denied two of the allegations contained therein but admitted the remaining allegations.

DECISION:

On April 28, 2016, NFA's BCC issued a Decision accepting AK Financial and Kim's settlement offer and ordering them to immediately withdraw from NFA membership and associate membership, respectively. The Decision also provides that in the event that either of them ever re-applies for NFA membership or associate membership or principal status with an NFA Member, NFA may use the Complaint and Decision as the sole basis for denying AK Financial and/or Kim's application.

 
Narrative for 0332235 - KIM, ANDI
TO VIEW THE DOCUMENTS LISTED BELOW, GO TO CASE DOCUMENTS. TO OBTAIN A COPY, CONTACT NFA'S INFORMATION CENTER.

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COMPLAINT:

On February 24, 2016, NFA's Business Conduct Committee (BCC) issued a Complaint to AK Financial Holdings, Inc. (AK Financial) and Andi Kim (Kim). The BCC Complaint charges that AK Financial facilitated prohibited loans, and that AK Financial and Kim failed to supervise and uphold high standards of commercial honor and just and equitable principles of trade.

ANSWER TO COMPLAINT:

On March 24, 2016, AK Financial and Kim filed an Answer to the Complaint in which they denied two of the allegations contained therein but admitted the remaining allegations.

DECISION:

On April 28, 2016, NFA's BCC issued a Decision accepting AK Financial and Kim's settlement offer and ordering them to immediately withdraw from NFA membership and associate membership, respectively. The Decision also provides that in the event that either of them ever re-applies for NFA membership or associate membership or principal status with an NFA Member, NFA may use the Complaint and Decision as the sole basis for denying AK Financial and/or Kim's application.

 
 Case Documents Summary 
 NFA IDRespondentDocument Type
 0468072AK FINANCIAL HOLDINGS INCANSWER
 0468072AK FINANCIAL HOLDINGS INCCOMPLAINT
 0468072AK FINANCIAL HOLDINGS INCDECISION
 0332235KIM, ANDIANSWER
 0332235KIM, ANDICOMPLAINT
 0332235KIM, ANDIDECISION