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February 26, 2008
NFA orders South Florida firm to withdraw from membership; suspends New York firm
February 26, Chicago - National Futures Association (NFA) has ordered Stonebridge Financial Services LLC (Stonebridge) to withdraw from NFA membership for a period of two years and Andres Rodriguez to withdraw from NFA associate membership for a period of one year. Stonebridge is an Introducing Broker located in Delray Beach, Florida and Rodriguez is the president of Stonebridge. The Decision, issued by NFA's Business Conduct Committee, is based on a Complaint filed in October 2007 and a settlement offer submitted by Stonebridge and Rodriguez.
The Committee found that Stonebridge and Rodriguez allowed a suspended NFA Associate to perform activities on behalf of and in connection with Stonebridge's futures business and that they failed to adequately supervise the firm's operations and the sales practices of their associated persons. Additionally, the Committee found that Stonebridge made misleading sales solicitations to customers.
In an unrelated action, NFA has suspended Suoritus Partners LLC (Suoritus), a Commodity Pool Operator located in New York City, from NFA membership until further notice. The Decision, issued by NFA's Business Conduct Committee is based on a Complaint filed in November 2007.
The Committee found that Suoritus failed to file the annual financial report for the Gemini Futures Fund Ltd. (Fund) and has failed to answer the Complaint. Suoritus will be suspended until such time it files the annual report for the Fund.
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