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February 20, 2009
Florida futures broker permanently withdraws from NFA membership
February 20, Chicago - National Futures Association (NFA) has accepted Trendex Commodity Corp.'s (Trendex) settlement offer to permanently withdraw from NFA membership. Trendex, an Introducing Broker Member of NFA, is located in Hollywood, Florida. Thomas Paul Wayne, an Associated Person of Trendex, also agreed to withdraw his membership in NFA for a period of two years. The Decision, issued by NFA's Business Conduct Committee, is based on an NFA Complaint filed in October 2008 and a settlement offer submitted by Trendex and Wayne that neither admitted nor denied the allegations made against them in the Complaint.
The Complaint alleged that Trendex and Wayne failed to observe high standards of commercial honor and just and equitable principles of trade. In addition, the Complaint alleged that Trendex and Wayne made deceptive and misleading sales solicitations and used a high-pressure sales approach.
NFA is the premier independent provider of innovative and efficient regulatory programs that safeguard the integrity of the futures markets.