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December 07, 2007
National Futures Association fines Chicago forex firm Hamilton Williams LLC
December 7, Chicago - National Futures Association has levied a $90,000 fine against Hamilton Williams LLC (Hamilton), a futures commission merchant and forex dealer Member of NFA located in Chicago, Illinois. The Decision, issued by NFA's Hearing Panel on December 5, resulted from an NFA Complaint filed in May 2007, and a settlement offer submitted by Hamilton.
The Panel found that Hamilton's non-registered solicitors used misleading promotional materials in soliciting forex customers. Additionally, the Panel found that Hamilton violated several NFA Compliance Rules, including failure to maintain adequate books and records and failure to maintain the required adjusted net capital.
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