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January 30, 2008
NFA fines Charlotte forex firm, Advanced Markets, Inc., and its principals $150,000
January 30, Chicago - National Futures Association (NFA) has ordered Advanced Markets, Inc. (AMI) and its principals, Anthony P. Brocco and Geoffrey Gooch, to jointly pay a fine of $150,000. AMI is a Futures Commission Merchant and a Forex Dealer Member located in Charlotte, North Carolina. The Decision, issued by an NFA Hearing Panel, is based on a Complaint filed in June 2007 and a settlement offer submitted by AMI, Brocco and Gooch.
The Panel found that Brocco and Gooch failed to diligently supervise the firm's financial and recordkeeping activities and the promotional materials used by AMI's unregistered solicitors.
NFA is the premier independent provider of innovative and efficient regulatory programs that safeguard the integrity of the derivatives markets.