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June 17, 2011
NFA permanently bars California firm Roslex Corporation from NFA membership
June 17, Chicago - National Futures Association (NFA) has permanently barred Roslex Corporation (Roslex) from NFA membership. Roslex was an Introducing Broker located in Rancho Cucamonga, California. Additionally, Gabriel A. Robles, president of Roslex, is barred from NFA membership for a period of four years. In the event that he reapplies for NFA membership, he must pay a fine of $35,000. The Decision, issued by NFA's Business Conduct Committee, is based on an NFA Complaint filed in May 2011 and a settlement offer submitted by Roslex and Robles.
The Complaint alleged that Roslex and Robles failed to uphold just and equitable principles of trade by trading discretionary accounts in a manner that maximized commissions and fees for Roslex and Robles without regard to the best interest of their customers. Additionally, the Complaint alleged that Roslex and Robles failed to diligently supervise Roslex's commodity futures business. The Complaint also alleged that Roslex failed to maintain required books and records and capital levels as well as failed to give required telegraphic notice of these deficiencies.
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