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April 23, 2010
NFA permanently bars Boca Raton firm, Windsor Wealth Management LLC
April 23, Chicago - National Futures Association (NFA) has permanently barred from NFA membership Windsor Wealth Management LLC (Windsor Wealth Management), an Introducing Broker located in Boca Raton, Florida. The Decision, issued by NFA's Business Conduct Committee (BCC) is based on an NFA Complaint filed in April 2010 and a settlement offer submitted by Windsor Wealth Management.
The Committee found that Windsor Wealth Management failed to list Anthony Bobba as a principal of the firm and provided false information regarding Bobba's role and compensation at the firm. Bobba was previously named as a respondent in a 2009 BCC case in which he and Pioneer Commodities LLC, of which Bobba was president, were charged with making misrepresentations to the testing service for the Series 3 Exam in order to obtain additional time for prospective associated persons of Pioneer to take the Series 3 Exam. See previous press release.
Additionally, the Committee found that Windsor Wealth Management failed to disclose customer complaints to NFA, failed to calculate net capital properly and allowed equity withdrawals when the firm's adjusted net capital was under equity withdrawal restrictions. The Committee also found that Windsor Wealth Management engaged in deceptive trading practices designed to generate commissions for the firm to the detriment of customers and engaged in fraudulent activity in the firm's error account. Finally, the Committee found that Windsor Wealth Management failed to supervise its brokers' dealings with customers and the trade recommendations they made to customers to ensure that they did not cause harm to customers and complied with NFA Requirements.
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