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August 13, 2007
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NFA permanently bars United Global Markets LLC and orders firm to pay $40,000 fine
August 13, Chicago - National Futures Association (NFA) has permanently barred United Global Markets LLC (UGM), a Futures Commission Merchant and Forex Dealer Member located in Boston, Massachusetts, from NFA membership. Additionally, NFA ordered UGM to pay a $40,000 fine. The Decision, issued by NFA's Business Conduct Committee, is based on a Complaint filed in August 2007 and a settlement offer submitted by UGM.
The Committee found that UGM failed to maintain the required minimum adjusted net capital.
NFA is the premier independent provider of innovative and efficient regulatory programs that safeguard the integrity of the derivatives markets.