News Releases

For more information contact:

Karen Wuertz, 312-781-1335, kwuertz@nfa.futures.org

NFA orders California firm Rimar Capital LLC and its principal Itai Royi Liptz to withdraw from NFA membership and principal status and not reapply for 30 months

July 8, Chicago--NFA has ordered Rimar Capital LLC (Rimar Capital), an NFA Member commodity trading advisor located in Burlingame, California, and Itai Royi Liptz (Liptz), an associated person (AP) and a principal of Rimar Capital and an NFA Associate, to withdraw from and not reapply for NFA membership and principal status for 30 months. If either Rimar Capital or Liptz seeks NFA membership or principal status following the 30-month period, they must pay a $90,000 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 Rimar Capital and Liptz, in which they neither admitted nor denied the allegations in the Complaint.

In its Decision, the BCC found that Rimar Capital and Liptz failed to observe high standards of commercial honor and just and equitable principles of trade by trading ahead of customer accounts, used deceptive and misleading communications with potential customers, and failed to supervise its operations and employees. The BCC also found that Rimar Capital allowed an individual to act as an AP without being registered in that capacity.

The complete text of the Complaint and Decision can be viewed on NFA's website.