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August 06, 2020
NFA orders former Chicago, Ill. introducing broker Postrock Brokerage LLC to not reapply for membership
August 6, Chicago—NFA has ordered Postrock Brokerage LLC (Postrock), a former NFA Member introducing broker located in Chicago, Ill., to not reapply for membership.
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 Postrock and Kevin Meyer, Postrock's owner and sole managing member. Among other things, the Complaint alleged that Postrock made misleading statements and misrepresentations to customers and placed unauthorized trades in customers' accounts or exercised discretion over customers' accounts without having written authority. In addition, the Complaint alleged that Postrock placed trades for customers which offered no economic benefit.