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For Immediate Release
June 11, 2007
NFA permanently bars Midas Communication Services LLC and fines its principal, Shamim Jalil Ahmed
June 11, Chicago - National Futures Association (NFA) permanently barred Midas Communication Services LLC (Midas) from NFA membership and ordered its principal, Shamim Jalil Ahmed, to pay a fine of $1,000. Ahmed is also barred from being a principal of any NFA Member for a period of one year. Midas is a former Commodity Trading Advisor located in New York City. The Decision, issued by NFA's Business Conduct Committee, is based on the Complaint filed in May 2006.
The Committee found that Midas and Ahmed failed to cooperate with NFA in its audit of Midas in that Midas failed to produce certain books and records requested by NFA.
NFA is the premier independent provider of innovative and efficient regulatory programs that safeguard the integrity of the derivatives markets.