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February 28, 2007
NFA permanently bars Trading Alliance, Inc. for using misleading Web-based promotional material
February 28, Chicago - National Futures Association (NFA) has permanently barred from NFA membership, Trading Alliance, Inc. (Trading Alliance), a former Commodity Trading Advisor located in Los Angeles, California. Additionally, NFA suspended Vladimir Konst Pereversev also known as Walter Konst, Trading Alliance's principal, for a period of one year. The Decision, issued by NFA's Hearing Panel, is based on a Complaint filed in April 2006 and a settlement offer submitted by Trading Alliance and Konst.
The Hearing Panel found that Trading Alliance and Konst used misleading Web-based promotional material that included claims of profit without discussing the risk of futures and options trading, and performance results that were not clearly identified as hypothetical. The Hearing Panel also found that Trading Alliance's Web site failed to include an appropriate disclaimer statement indicating the hypothetical results were not actual and also failed to include past performance results from Konst's previous customer accounts, which had lost money.
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