Aggregated News From Investment Management Regulators

NFA orders Chicago, Ill. introducing broker Infinity Futures LLC to pay a $120,000 fine


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Chicago—NFA has ordered Infinity Futures LLC (Infinity Futures), an NFA Member introducing broker located in Chicago, Ill., to pay a $120,000 fine. Infinity Futures is a wholly-owned subsidiary of York Business Associates LLC (York), an NFA Member futures commission merchant located in Deer Park, Ill., and introduces substantially all of its business to York. NFA also ordered Infinity Futures’ associated person (AP) Patrick Zielbauer to pay a $20,000 fine. Finally, NFA ordered Infinity Futures to continue to record all of Zielbauer’s communications for three years.

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, among others, Infinity Futures, York, Zielbauer, James Paul Mooney and James Cagnina. Both Mooney and Cagnina are APs of Infinity Futures and York and principals of Infinity Futures. Mooney is also a principal of York. The Panel found that, among other things, Infinity Futures, York and Zielbauer failed to uphold high standards of commercial honor and just and equitable principles of trade. The Panel also found that Infinity and York did business with an entity that should have been registered with the CFTC as a commodity pool operator and an NFA Member but was not. Furthermore, the Panel found that Infinity Futures, York, Mooney and Cagnina failed to diligently supervise Infinity’s and York’s operations and employees.

For more information, read the Complaint and Decision.

For more information contact:

Kristen Scaletta, 312-781-7860, [email protected]
Karen Wuertz, 312-781-1335, [email protected]

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Regulator Information

Abbreviation: NFA
Jurisdiction: United States

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