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March 17, 2008
NFA settles enforcement action against Commercial Hedge Services, Inc. and its principal
March 17, Chicago - National Futures Association (NFA) has ordered Commercial Hedge Services, Inc. (Commercial Hedge) and its principal, Lawrence J. Volf, not to apply for NFA membership or associate membership for a period of three years. Commercial Hedge is a former Introducing Broker (IB) located in North Platte, Nebraska. The Decision, issued by an NFA Hearing Panel, is based on a Complaint filed in May 2004 and a settlement offer submitted by Commercial Hedge and Volf.
The Panel found that Commercial Hedge and Volf placed unauthorized speculative trades in customers' hedge accounts which exceeded hedge limits. The Panel also found that Commercial Hedge and Volf conducted business with Prime Trading Company, Inc., a separately incorporated branch office of Commercial Hedge which was not properly registered as an IB.
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