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March 18, 2021
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NFA orders former principal and associated person Daniel Morris Miller not to reapply for membership for three years
March 18, Chicago—NFA has ordered Daniel Morris Miller, a former principal and associated person (AP) of Argo Wealth Management, Inc. (Argo), not to reapply for membership or act as a principal of an NFA Member for a period of three years. If Miller seeks NFA membership or principal status with an NFA Member after expiration of his three-year membership bar, he must pay a $100,000 fine. Miller is also subject to certain restrictions for an additional two years, if he is again granted NFA membership status. Argo is a former NFA Member commodity pool operator located in Akron, Ohio.
The Decision, issued by an NFA Hearing Panel, is based on a Complaint issued by NFA's Business Conduct Committee and a settlement offer submitted by Miller, in which he neither admitted nor denied the allegations. The Complaint alleges that he failed to disclose the impact of so-called "commission rebates" on the profit potential of pool participants, and the extent of fees and commissions that would be charged and their significant impact on the pool. The Complaint also alleges that Miller used deceptive and misleading promotional material and failed to diligently supervise the activities of Argo and its employees and agents.