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September 17, 2018
NFA orders Chicago, Ill. introducing broker Global Asset Advisors LLC and its principal Glenn Swanson to jointly pay a $200,000 fine
September 17, Chicago—NFA has ordered Chicago, Ill. introducing broker Global Asset Advisors LLC and its principal and associated person Glenn A. Swanson to jointly pay a $200,000 fine. NFA also ordered Global Asset Advisors' principal and associated person Kenneth S. Packard to pay a $35,000 fine.
The Decision, issued by NFA's Business Conduct Committee (BCC), is based on a Complaint issued by the BCC, and a settlement offer submitted by Global Asset Advisors, Swanson and Packard. The BCC found that Global Asset Advisors, Swanson and Packard failed to adequately supervise the firm's operations and its employees to monitor for, and detect, unusual allocation activity and to prevent violations of a Member Responsibility Action issued by NFA.