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For Immediate Release
March 3, 2010

For more information contact:
Larry Dyekman (312) 781-1372,
Karen Wuertz (312) 781-1335,

NFA revokes registration of several associated persons of former Boca Raton futures firm

March 3, Chicago - National Futures Association (NFA) has revoked the registrations of Jeremy J. Grena, Nabil P. Niman, Nicholas P. Payne, William M. Rill and Alexander M. Silverman, former associated persons (AP) of Pioneer Commodities LLC (Pioneer) and Windsor Wealth Management LLC, firms based in Boca Raton, Florida.

A designated Subcommittee of NFA's Membership Committee issued the Final Orders revoking registration because the APs had misrepresented that English was not their primary language in order to receive additional time to complete the Series 3 examination, a proficiency exam all individuals registering to become an AP must pass.

The Subcommittee declined to revoke the registrations of Teresia A. Bactawar and Lusay A. Wooten. The Subcommittee found that Wooten and Bactawar truthfully represented that English was not their primary language.

The Final Orders reinforce NFA's continuing efforts to prevent proficiency exam abuses. Pioneer, a former introducing broker Member of NFA, was permanently barred from NFA membership in August 2009 for its misrepresentations and failure to supervise its Series 3 training. See previous press release.

The Final Orders become effective April 1, 2010. Grena, Nilman, Payne, Rill and Silverman may file a Notice of Appeal with the Commodity Futures Trading Commission (CFTC).

The complete text of the Final Orders can be viewed through the links below:
Teresia A. Bactawar
Jeremy J. Grena
Nabil P. Niman
Nicholas P. Payne
William M. Rill
Alexander M. Silverman
Lusay A. Wooten

NFA is the premier independent provider of innovative and efficient regulatory programs that safeguard the integrity of the futures markets.

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