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November 20, 2007
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NFA orders One World Capital Group LLC, an Illinois Forex Dealer Member, to pay $100,000 fine
November 20, Chicago - National Futures Association (NFA) has ordered One World Capital Group LLC (One World) to pay a fine of $100,000, on or before December 31, 2007, and an additional fine of $50,000, on or before February 1, 2008, unless certain conditions are met. One World is a Futures Commission Merchant and Forex Dealer Member (FDM) located in Winnetka, Illinois with a branch office in New York City. The Decision, issued by an NFA Hearing Panel, is based on a Complaint filed in June 2007 and a settlement offer submitted by One World and John E. Walsh, its principal.
The Panel found that One World failed to meet minimum adjusted net capital requirements and failed to maintain current books and records. Additionally, the Panel found that One World used deficient promotional material and failed to adopt and enforce written procedures to supervise the use of their promotional material.
One World must comply with all NFA Requirements, including capital requirements for FDMs and the increased capital requirements for FDMs which are effective December 21, 2007.
NFA is the premier independent provider of innovative and efficient regulatory programs that safeguard the integrity of the derivatives markets.