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January 27, 2010
NFA permanently bars Barbados futures firm and bars principal for three years
January 27, Chicago - National Futures Association (NFA) has permanently barred Kingz Capital Management Corporation (KCM) from NFA membership. KCM was registered as a Commodity Trading Advisor and Commodity Pool Operator located in Barbados. NFA also barred David M.S. Krywenky, the firm's principal, for three years.
The Decision, issued by an NFA Hearing Panel, is based on an NFA Complaint filed in September 2009 and a settlement offer submitted by KCM and Krywenky.
The Complaint charged KCM and Krywenky with failure to uphold high ethical standards and failure to supervise. The Complaint also charged KCM with cheating, defrauding or deceiving another person or attempting to do so.
Following his three-year bar, if Krywenky applies for associate NFA membership with any NFA Member, he must pay a $25,000 fine.
NFA is the premier independent provider of innovative and efficient regulatory programs that safeguard the integrity of the futures markets.