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For Immediate Release
March 21, 2012
NFA orders California firm Intercapital Markets Corp. and its principal to withdraw from NFA membership
March 21, Chicago - National Futures Association (NFA) ordered Intercapital Markets Corp. (ICM) and its principal, Meixuan Zhang to withdraw from NFA membership and never reapply. ICM is a commodity pool operator (CPO) and commodity trading advisor (CTA) located in Alhambra, California. The Decision, issued by NFA's Business Conduct Committee, is based on an NFA Complaint filed in December 2011 and a settlement offer submitted by ICM and Zhang.
The Committee found that ICM and Zhang failed to cooperate with NFA during the course of its audit. Additionally, the Committee found that ICM and Zhang used misleading promotional material to solicit potential customers through ICM's website. ICM's website suggested that the firm was authorized to engage in retail forex business and act as a counterparty to customers even though ICM was not an NFA designated forex firm and was only registered as a CPO and CTA.