News Releases2019 | 2018 | 2017 | 2016 | 2015 | Show more years
June 20, 2006
NFA permanently bars Ft. Lauderdale firm and one of its principals; suspends another
June 20, Chicago - National Futures Association has permanently barred from membership Harrington Financial & Energy Advisors, an Introducing Broker located in Ft. Lauderdale, Florida, and Gerri Sternfeld, one of the firm's principals and an Associate Member of NFA. NFA has also suspended Elaine Geller, another of the firm's principals and an Associate Member of NFA, from NFA membership for a period of six months. If Gellar re-applies for NFA membership after her suspension period has ended, she must pay a $7,500 fine and tape record all of her telephone conversations with customers or prospective customers for six months.
The Decision, issued by NFA's Hearing Committee, is based on the charges contained in an NFA Complaint filed in May 2005, and settlement offers submitted by Harrington, Sternfeld and Geller. The NFA Complaint charged that Harrington and Geller made deceptive and misleading sales solicitations and that Harrington used a high-pressure sales approach. The Complaint also charged that Harrington and Sternfeld failed to diligently supervise their employees and agents.
The complete text of the Complaint and 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.