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April 09, 2019
NFA orders Ryan Litfin, former associated person and branch manager of the Eden Prairie, Minn. Branch office of East West Global, LLC to not reapply for NFA membership for five years
April 9, Chicago—NFA has ordered Ryan Litfin, former associated person and branch manager of the Eden Prairie, Minn. Branch office of East West Global, LLC to not reapply for NFA membership for five years.
The Decision, issued by an NFA Hearing Panel, is based on a Complaint issued by NFA's Business Conduct Committee (BCC), and a settlement offer submitted by Litfin. The Complaint charged Litfin with making deceptive and misleading sales solicitations to pool participants and failing to uphold high standards of commercial honor and just and equitable principles of trade by utilizing materially inaccurate and deficient disclosure documents. NFA's Complaint alleged that Litfin employed a strategy that relied on extremely high fees that generated significant revenue for East West Global, at the expense of the firm's pool participants, and failed to adequately disclose the high fees and poor overall performance of the pools. The Complaint also alleged that Litfin knew these disclosure documents were materially inaccurate and likely to deceive pool participants.
Litfin has been the subject of three previous Complaints issued by NFA's BCC. In 2012, Litfin was charged with making misleading sales solicitations, using misleading promotional material, and failing to supervise. In 2013, Litfin was charged with failing to supervise and using promotional material prior to submitting it to NFA for pre-review and approval. In 2016, Litfin was charged with using deficient promotional material, failing to submit promotional material to NFA for pre-review and approval, and failing to supervise.