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For Immediate Release
October 30, 2012

For more information contact:
Karen Wuertz (312) 781-1335, kwuertz@nfa.futures.org
Larry Dyekman (312) 781-1372, ldyekman@nfa.futures.org

NFA fines New York forex firm, Forex Club LLC, and its former CEO Peter Tatarnikov, $300,000

October 30, Chicago - National Futures Association (NFA) has ordered Forex Club LLC (FX Club), a New York-based futures commission merchant and forex dealer member, and Peter Tatarnikov, a former principal of the firm, to pay a $300,000 fine as a result of an NFA Complaint filed October 25 and a settlement offer submitted by FX Club and Tatarnikov.

The Complaint, issued by NFA's Business Conduct Committee (BCC), alleged that FX Club violated several NFA requirements, including failing to maintain adequate books and records, failing to maintain an adequate anti-money laundering program, failing to report trade data in a timely fashion and failing to comply with NFA's Enhanced Supervisory Requirements. The Complaint also alleged that FX Club-together with Tatarnikov-failed to supervise.

In addition to the $300,000 fine, FX Club also must correct all deficiencies and implement all recommendations noted during a review conducted by an outside, independent party, and file its fiscal year end annual statements prepared and certified by an independent public accountant who is registered under the Sarbanes-Oxley Act.

FX Club and Tatarnikov neither admitted nor denied the charges.

The complete texts of the Complaint and Decision are available on NFA's website (www.nfa.futures.org).

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