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July 12, 2006
NFA takes enforcement action against Missouri commodity pool operator and its principal
July 12, Chicago - National Futures Association (NFA) announced today that it has suspended Jordan Assets Ltd. (JAL), a commodity pool operator and commodity trading advisor located in Excello, Missouri, and Wallace Neal Jordan, the firm's sole owner. As a result of the suspension, JAL and Jordan are prohibited from acting in any manner which requires registration under the Commodity Exchange Act and are prohibited from disbursing any funds without NFA approval.
NFA took the enforcement action, which becomes effective immediately, because JAL and Jordan failed to produce books and records requested by NFA as part of an examination of JAL. Because of this failure to cooperate, NFA is unable to ascertain that JAL is in full compliance with all NFA requirements.
The suspension will remain in effect until NFA is satisfied that JAL is in complete compliance with all NFA requirements. JAL and Jordan may petition the Commodity Futures Trading Commission for a stay of this action and may also request a hearing before NFA's Hearing Committee.
The complete text of the enforcement action can be found at NFA's Web site (www.nfa.futures.org).
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