01-31-2008, 08:35 PM
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Senior
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Join Date: Jun 2007
Posts: 181
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Thanked 16 Times in 12 Posts
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NFA Fines AMIFX
Advanced Markets just got nailed for shoddy book keeping. Here is the the NFA's official statement:
Quote:
NFA fines Charlotte forex firm, Advanced Markets, Inc., and its principals $150,000
January 30, Chicago - National Futures Association (NFA) has ordered Advanced Markets, Inc. (AMI) and its principals, Anthony P. Brocco and Geoffrey Gooch, to jointly pay a fine of $150,000. AMI is a Futures Commission Merchant and a Forex Dealer Member located in Charlotte, North Carolina. The Decision, issued by an NFA Hearing Panel, is based on a Complaint filed in June 2007 and a settlement offer submitted by AMI, Brocco and Gooch.
The Panel found that Brocco and Gooch failed to diligently supervise the firm's financial and recordkeeping activities and the promotional materials used by AMI's unregistered solicitors.
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