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January 11, 2007
NFA permanently bars Florida and Oregon firms and their principal
January 11, Chicago - National Futures Association (NFA) has permanently barred Introducing Brokers Mercer Capital Management (MCM), Mercer Capital Inc. (MCI), and their principal, Robert L. Flickinger from membership. MCM is headquartered in Boca Raton, Florida and MCI is located in Portland, Oregon. The Decision, issued by NFA's Business Conduct Committee, is based on a Complaint issued on August 30, 2006 and a settlement offer submitted by MCM, MCI and Flickinger.
The Complaint charged that MCM failed to maintain required books and records and failed to initiate an adequate anti-money laundering program. The Complaint also charged that MCI and Flickinger made deceptive and misleading sales solicitations and employed a high-pressure approach. Furthermore, the Complaint charged that MCM, MCI and Flickinger failed to supervise their employees in the conduct of their futures activities.
The complete text of the Complaint and Decision can be found on NFA's Web site (www.nfa.futures.org).
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