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August 13, 2007
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NFA permanently bars Virginia forex firm, Forefront Investments Corporation
August 13, Chicago - National Futures Association (NFA) has permanently barred Forefront Investments Corporation (Forefront), a Futures Commission Merchant and Forex Dealer Member located in Richmond, Virginia, from NFA membership. The Decision, issued by NFA's Business Conduct Committee, is based on a Complaint filed in April 2007 and a settlement offer submitted by Forefront.
The Complaint charged that Forefront used misleading promotional material. In addition, the Complaint charged that Forefront failed to comply with NFA financial requirements, file financial statements within a timely manner, and implement an adequate anti-money laundering program. Further, the Complaint charged that Forefront failed to have a principal also registered as an associated person (AP).
NFA is the premier independent provider of innovative and efficient regulatory programs that safeguard the integrity of the derivatives markets.