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For Immediate Release
March 01, 2018

For more information contact:
Kristen Scaletta, 312-781-7860, kscaletta@nfa.futures.org
Karen Wuertz, 312-781-1335, kwuertz@nfa.futures.org

NFA permanently bars Chicago, Ill. introducing broker Fortune Trading Group, Inc. from membership, bars its principal and associated person Jonathan Schuler from membership for five years, and orders Chicago, Ill. futures commission merchant Ironbeam, Inc. to pay a $100,000 fine

March 1, Chicago—NFA has permanently barred Chicago, Ill. guaranteed introducing broker (GIB) Fortune Trading Group, Inc. (FTG) from membership and from acting as a principal of an NFA Member. NFA also barred FTG's sole principal and an associated person Jonathan Schuler from membership and from acting as a principal of an NFA Member for five years. In addition, NFA ordered Chicago, Ill. futures commission merchant Ironbeam, Inc. (Ironbeam), FTG's guarantor, to pay a $100,000 fine.

The Decision as to FTG and Schuler and the Decision as to Ironbeam, issued by an NFA Hearing Panel, are based on a Complaint issued by NFA's Business Conduct Committee on July 11, 2017 and settlement offers submitted by FTG, Schuler and Ironbeam. The Hearing Panel found that FTG and Schuler failed to observe high standards of commercial honor and just and equitable principles of trade by making trading recommendations primarily designed to increase commissions that served no economic or other purpose for customers. The Hearing Panel also found that FTG and Schuler used misleading and deceptive promotional material and made misleading and deceptive sales solicitations. Finally, the Hearing Panel found that Ironbeam failed to diligently supervise the operations of FTG, Ironbeam's GIB.

The complete text of the Complaint, Decision as to FTG and Schuler and Decision as to Ironbeam can be viewed on NFA's website.

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