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December 27, 2005
NFA orders Florida futures firm not to apply for NFA membership for ten years
December 27, Chicago - National Futures Association has ordered Platinum Trading Group, Inc. (Platinum), a former introducing broker (IB) and commodity trading advisor (CTA) located in Boca Raton, Florida, not to apply for NFA membership for ten years. The Decision, handed down by an NFA Hearing Panel, is a result of an NFA Complaint issued on April 26, 2005, and reflects a settlement offer submitted by Platinum.
The NFA Complaint charged Platinum with making deceptive and misleading solicitations encouraging individuals to open accounts to trade OTC forex. The complete text of the Complaint and the Decision can be found on NFA's Web site (www.nfa.futures.org).
NFA is the premier independent provider of efficient and innovative regulatory programs that safeguard the integrity of the derivatives markets.