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November 10, 2015
NFA bars West Chester, Ohio commodity trading advisor YZ Investment Services and its principal, Yanping Zhang, from membership for five years
November 10, Chicago—National Futures Association (NFA) has barred West Chester, Ohio commodity trading advisor YZ Investment Services LLC (YZ) and its sole associated person and principal, Yanping Zhang, from membership and from acting as a principal of an NFA Member for five years.
The BCC found that YZ and Zhang used misleading and deceptive promotional material, with highly inflated rates over an extended period of time, whereas in actuality, YZ had only traded for two years and its customers' rates of return were materially less than those promoted. In addition, the BCC found that YZ failed to maintain adequate books and records to support its performance claims, and opened and exercised discretion over customer accounts without providing those customers with an accepted disclosure document. Finally, the BCC found that Zhang failed to diligently supervise YZ's activities.