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September 18, 2007
NFA permanently bars US Financial Group, Inc. and suspends its principal
September 18, Chicago - National Futures Association (NFA) has permanently barred US Financial Group, Inc. (USFG), an Introducing Broker (IB) located in Fort Lauderdale, Florida, from NFA membership. NFA also suspended from membership USFG's principal and sole associated person (AP), Todd A. Young, for a period of two years. If Young again becomes an NFA Member at the expiration of the suspension, he must pay a fine of $10,000. The Decision, issued by an NFA Hearing Panel, is based on a Complaint filed in March 2007 and a settlement offer submitted by USFG and Young.
The Panel found that Young failed to abide by the taping requirements of a prior Decision issued by NFA's Business Conduct Committee in February 2001. Additionally, the Panel found that USFG failed to supervise Young's commodity and futures activities and that USFG and Young made misleading sales solicitations.
NFA is the premier independent provider of innovative and efficient regulatory programs that safeguard the integrity of the derivatives markets.