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October 26, 2011
NFA permanently bars Florida firm Randolph J. Ginsberg Introducing Brokerage
October 26, Chicago - National Futures Association (NFA) has permanently barred Randolph J. Ginsberg Introducing Brokerage, Inc. (RJ Ginsberg IB) from NFA membership. RJ Ginsberg IB is an Introducing Broker located in Fort Lauderdale, Florida. Randolph J. Ginsberg, the firm's principal, is also barred for a period of 18 months. The Decision, issued by an NFA Hearing Panel, is based on an NFA Complaint filed in May 2011 and a settlement offer submitted by RJ Ginsberg IB and Ginsberg.
The Complaint charged that RJ Ginsberg IB and Ginsberg failed to uphold just and equitable principals of trade in that they acted without regard to their customers' best interests in order to generate commissions and that RJ Ginsberg IB and Ginsberg failed to supervise their associated persons' (APs) activities. The Complaint also charged that RJ Ginsberg IB failed to provide adequate risk disclosures to their customers and allowed an unregistered individual to act in a capacity that would require registration as an AP.
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