News Releases

For more information contact:
Karen Wuertz (312) 781-1335, kwuertz@nfa.futures.org

NFA takes emergency enforcement action against Christ Investment Service LLC, a San Francisco Introducing Broker

April 9, Chicago - National Futures Association (NFA) announced that it has suspended from NFA membership Christ Investment Service LLC (CIS), an introducing broker (IB) located in San Francisco, California. NFA took the Member Responsibility Action (MRA) based on information received by NFA that suggests CIS, which is only registered as an IB, is illegally acting as a futures commission merchant and as a counterparty to foreign currency transactions (forex). CIS also provided NFA with false and misleading statements about its customer business, failed to produce books and records to NFA, and failed to cooperate with NFA in its investigation of this matter.

The suspension, which becomes effective immediately, prohibits CIS from acting in any manner which requires registration under the Commodity Exchange Act. The suspension also prohibits CIS from soliciting or accepting any additional customer accounts. In addition, the suspension prohibits CIS from distributing, disbursing or transferring any funds without prior NFA approval.

The action will remain in effect until CIS demonstrates that it is in complete compliance with all NFA requirements. CIS may request a hearing before NFA's Hearing Committee.

NFA is the premier independent provider of innovative and efficient regulatory programs that safeguard the integrity of the derivatives markets.