NFA has permanently barred LTG Trading LLC (LTG), a former NFA Member and current CFTC registered introducing broker located in Orland Park, Ill., from membership and from acting as a principal of an NFA Member. NFA also barred Gary Fullett, LTG’s former sole principal and associated person, from NFA membership and from acting as a principal of an NFA Member for five 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 LTG and Fullett. The Panel found that LTG and Fullett failed to uphold the high standards of commercial honor and just and equitable principles of trade. The Panel also found that LTG and Fullett failed to obtain the required written authorizations from customers to trade their accounts on a discretionary basis, made misleading and deceptive sales solicitations and used misleading and deceptive promotional material.
This news item was originally published by the National Futures Association (NFA US). For more information, please see the Source Link.