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November 23, 2009
NFA accepts offer from Tennessee firm Blue Sky Capital Management Corp. and its principal to permanently withdraw from NFA membership
November 23, Chicago - National Futures Association's (NFA) Business Conduct Committee has accepted a settlement offer from Blue Sky Capital Management Corp. (Blue Sky) and its principal, Gregory M. Schneider, to permanently withdraw from NFA membership. Blue Sky is a Commodity Trading Advisor and Commodity Pool Operator located in Lebanon, Tennessee. The Decision, issued by the Committee, is based on a Complaint filed in August 2009 and a settlement offer submitted by Blue Sky and Schneider.
The Complaint charged that Blue Sky and Schneider provided false and misleading information to NFA regarding the number of and total assets in accounts managed by Blue Sky and the beginning date of customer trading. The Complaint also charged that Blue Sky and Schneider misrepresented that the firm had no customer complaints, distributed a disclosure document that contained misleading performance information and failed to submit the disclosure document to NFA for review and approval.
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