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July 20, 2010
NFA takes emergency enforcement action against two Texas firms, CDH Global Holdings and CDH Forex Investments, and the firms' principal
July 20, Chicago - National Futures Association (NFA) announced today that it has taken an emergency enforcement action against CDH Global Holdings, LLC (CDH Global), CDH Forex Investments, LLC (CDH Forex) and Linda F. Harris, the firms' principal. CDH Global is a Commodity Trading Advisor and CDH Forex is a Commodity Pool Operator. Both firms are located in Flower Mound, Texas.
NFA has taken this Member Responsibility Action (MRA) and Associate Responsibility Action (ARA) because CDH Global, CDH Forex and Harris provided false and misleading information to NFA and failed to cooperate with NFA in its investigation of dramatically high performance claims contained in CDH Global's and CDH Forex's disclosure documents which turned out to be fictitious. The MRA also alleges that CDH Global, CDH Forex and Harris provided fabricated brokerage statements to NFA during its investigation. Although Harris claimed that a brokerage firm carried 75 customer accounts with a value of $18 million, the brokerage firm advised NFA that it did not carry accounts for customers of CDH Global or CDH Forex nor had it ever carried such accounts.
Effective immediately, CDH Global, CDH Forex and Harris are prohibited from soliciting or accepting any funds and from disbursing or transferring of any funds of customers, investors, commodity pools or any other investment vehicles without prior NFA approval.
The MRA/ARA will remain in effect until CDH Global, CDH Forex and Harris have demonstrated that they are in complete compliance with all NFA requirements. Harris, CDH Global and CDH Forex may request a prompt hearing before NFA's Hearing Committee.
The following NFA Compliance staff members are responsible for this case: Valerie Kretschmer (312-781-1290) and Ryan Olszewski (312-781-1494).
NFA is the premier independent provider of innovative and efficient regulatory programs that safeguard the integrity of the futures markets.