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For Immediate Release
November 17, 2010

For more information contact:

Karen Wuertz (312) 781-1335,
Larry Dyekman (312) 781-1372,

NFA takes emergency enforcement action against International Commodity Advisors and its principals

November 17, Chicago - National Futures Association (NFA) announced that it has taken an emergency enforcement action against International Commodity Advisors (ICA) and its principals, Gregory W. Seitz and Gustave O. Woehr. ICA is a Commodity Trading Advisor located in Marietta, Georgia with a branch office in Dallas, Texas.

NFA believes that ICA is operating or soliciting funds as a Commodity Pool Operator (CPO) without being registered as a CPO. NFA is unable to determine the identities of the firm's pool participants and their other customers because ICA, Seitz and Woehr have failed to produce books and records and other required information. Additionally, the value of their investments, the amount and the location of assets is unknown.

The Member Responsibility Action (MRA) and Associate Responsibility Action (ARA) prohibit ICA, Seitz and Woehr from soliciting or accepting any funds from customers, investors or pools. ICA, Seitz, and Woehr are also prohibited from disbursing or transferring funds of customers, investors or pools without prior NFA approval. ICA, Seitz and Woehr are required to either register as a CPO with the Commodity Futures Trading Commission (CFTC) and provide NFA with an approved disclosure document or demonstrate that CPO registration is not required.

The MRA/ARA will remain in effect until such time that ICA, Seitz and Woehr demonstrate that they are in complete compliance with all NFA Requirements. ICA, Seitz and Woehr may request a prompt hearing on this matter before NFA's Hearing Committee.

The complete text of the MRA/ARA is available on NFA's website (

The following Compliance staff members are responsible for this case: Diane Spreadbury (312-781-1573) 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.

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