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December 29, 2010
NFA permanently bars California firm Rock Financial Group and its principal
December 29, Chicago - National Futures Association (NFA) has permanently barred Rock Financial Group LLC (Rock Financial Group) and its principal, Scott Schaffer, from NFA membership. Rock Financial Group is a Commodity Trading Advisor located in Woodland Hills, California. The Decision, issued by NFA's Business Conduct Committee, is based on an NFA Complaint filed in December 2010 and a settlement offer submitted by Rock Financial Group and Schaffer.
The Committee found that Rock Financial Group and Schaffer failed to cooperate fully and promptly in NFA's investigation of the firm. NFA's investigation resulted in an emergency enforcement action taken against Rock Financial Group and Schaffer. See previous press release. Additionally, the Committee found that Rock Financial Group failed to disclose Schaffer's full business background and the existence of a pending lawsuit against Schaffer in the firm's disclosure document to customers. Rock Financial Group and Schaffer neither admitted nor denied the allegations of the Complaint.
NFA is the premier independent provider of innovative and efficient regulatory programs that safeguard the integrity of the futures markets.