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November 2, 2015
NFA bars Stamford, Conn. commodity pool operator and commodity trading advisor Nord Capital Advisors from membership
November 2, Chicago—National Futures Association (NFA) has permanently barred Nord Capital Advisors LLC (Nord Capital), an NFA Member commodity pool operator and commodity trading advisor located in Stamford, Conn. with a branch office in Moscow, Russia, and Yakov Shlyapochnik, an associated person and principal of Nord Capital, from membership. In addition, Nord Capital and Shlyapochnik are both barred from acting as principals of an NFA Member and must pay a $300,000 fine.
The Complaint charged Nord Capital and Shlyapochnik with a failure to cooperate by refusing to provide NFA with books and records as requested.
Nord Capital's and Shlyapochnik's willful refusal to produce the requested records prevented NFA from completing its examination. Such conduct on the part of Nord Capital and Shlyapochnik strikes at the heart of NFA's examination function, which depends upon the full cooperation of NFA Members and Associates in order to function effectively.
Nord Capital and Shlyapochnik were the subjects of an NFA enforcement action in July 2014 prohibiting them from soliciting or accepting funds, or placing trades and disbursing or transferring funds from customer accounts.