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December 22, 2014
NFA orders Las Vegas firm Wealthbuilder Capital Advisors and its principal, Courtney D. Smith, to permanently withdraw from NFA membership
December 22, Chicago — National Futures Association (NFA) has ordered Wealthbuilder Capital Advisors (WB Capital), formerly known as Global Arena Trading Advisors LLC (GA Trading), an NFA Member commodity trading advisor, commodity pool operator and designated forex firm, and its sole principal and associated person (AP), Courtney D. Smith, to permanently withdraw from NFA membership and CFTC registration.
The Decision, issued by an NFA Hearing Panel, is based on a Complaint filed May 2, 2014, and settlement offers submitted by WB Capital and Smith. The Complaint alleged that Las Vegas-based WB Capital and Smith used misleading futures and forex promotional material, and failed to cooperate with NFA. The Complaint also charged Smith with failing to provide certain pieces of promotional material despite his obligation to do so in accordance with a previous disciplinary matter.
In December 2012, NFA's Business Conduct Committee issued its first Complaint against Smith, who was then a registered AP of GA Trading. This Complaint also alleged that Smith used misleading promotional material and failed to cooperate with NFA. NFA's Hearing Panel issued a Decision regarding the 2012 Complaint, which ordered Smith to submit all promotional material to NFA, among other things.