June 12, 2013 NFA files COMPLAINT against Level III Management LLC, Level III Trading LLC and Bruce A. Gwyn

copied from nfa website

resource link http://www.nfa.futures.org/basicnet/Case.aspx?entityid=0384343&case=13BCC00007&contrib=NFA

_______________________________

June 12, 2013
Level III Management LLC, Level III Trading LLC and Bruce A. Gwyn
NFA Case Number: 13BCC00007

Case Summary

LEVEL III MANAGEMENT LLC NFA 13BCC00007 NFA ID: 0384343

Respondent/Effective Date Summary
 NFA ID Respondent Effective Date
 0190801 GWYN, BRUCE ALEXANDER
 0384343 LEVEL III MANAGEMENT LLC
 0382256 LEVEL III TRADING LLC
Rule Summary
 NFA ID Respondent Rule Type
 0190801 GWYN, BRUCE ALEXANDER • C.R.2-4 – HIGH STDS. OF COMMERCIAL HONOR
• C.R.2-2(a) – CHEAT,FRAUD DECEIVE CUSTOMERS
• C.R.2-5 – FAILURE TO COOPERATE W/ NFA
• C.R.2-2(f) – FALSE INFORMATION TO NFA/AGENTS
 0384343 LEVEL III MANAGEMENT LLC • C.R.2-2(f) – FALSE INFORMATION TO NFA/AGENTS
• C.R.2-4 – HIGH STDS. OF COMMERCIAL HONOR
• C.R.2-13 – RECORDKEEPING FOR CPOS/CTAS
• C.R.2-5 – FAILURE TO COOPERATE W/ NFA
• C.R.2-46 – CPO QUARTERLY REPORTING REQUIREMENTS
• C.R.2-2(a) – CHEAT,FRAUD DECEIVE CUSTOMERS
 0382256 LEVEL III TRADING LLC • C.R.2-5 – FAILURE TO COOPERATE W/ NFA
Committee Summary
 NFA ID Respondent Committee
 0190801 GWYN, BRUCE ALEXANDER • BUSINESS CONDUCT COMMITTEE
 0384343 LEVEL III MANAGEMENT LLC • BUSINESS CONDUCT COMMITTEE
 0382256 LEVEL III TRADING LLC • BUSINESS CONDUCT COMMITTEE
Action Summary
 NFA ID Respondent Action Types
 0190801 GWYN, BRUCE ALEXANDER • GENERAL CONDUCT
• SALES PRACTICE
 0384343 LEVEL III MANAGEMENT LLC • SALES PRACTICE
• GENERAL CONDUCT
 0382256 LEVEL III TRADING LLC • GENERAL CONDUCT
Penalty/Event Summary
No penalties have been selected for this case.
Narrative Summary
Narrative for 0190801 – GWYN, BRUCE ALEXANDER
**TO VIEW DOCUMENTS, GO TO CASE DOCUMENTS.**COMPLAINT:On June 12, 2013, NFA issued a Complaint charging L3M and Gwyn with willfully providing incomplete and misleading information to pool participants; failing to observe high standards of commercial honor and just and equitable principles of trade; and providing misleading information to NFA. The Complaint also charged L3M with failing to file a disclosure document or annual financial statement for the fund with NFA; failing to furnish participants in the fund with a financial statement; and failing to comply with CPO quarterly reporting requirements. Finally, the Complaint charged L3M, L3T and Gwyn with failing to cooperate with NFA.
Narrative for 0384343 – LEVEL III MANAGEMENT LLC
**TO VIEW DOCUMENTS, GO TO CASE DOCUMENTS.**COMPLAINT:On June 12, 2013, NFA issued a Complaint charging L3M and Gwyn with willfully providing incomplete and misleading information to pool participants; failing to observe high standards of commercial honor and just and equitable principles of trade; and providing misleading information to NFA. The Complaint also charged L3M with failing to file a disclosure document or annual financial statement for the fund with NFA; failing to furnish participants in the fund with a financial statement; and failing to comply with CPO quarterly reporting requirements. Finally, the Complaint charged L3M, L3T and Gwyn with failing to cooperate with NFA.
Narrative for 0382256 – LEVEL III TRADING LLC
**TO VIEW DOCUMENTS, GO TO CASE DOCUMENTS.**COMPLAINT:On June 12, 2013, NFA issued a Complaint charging L3M and Gwyn with willfully providing incomplete and misleading information to pool participants; failing to observe high standards of commercial honor and just and equitable principles of trade; and providing misleading information to NFA. The Complaint also charged L3M with failing to file a disclosure document or annual financial statement for the fund with NFA; failing to furnish participants in the fund with a financial statement; and failing to comply with CPO quarterly reporting requirements. Finally, the Complaint charged L3M, L3T and Gwyn with failing to cooperate with NFA.
Case Documents Summary
 NFA ID Respondent Document Type
 0190801 GWYN, BRUCE ALEXANDER COMPLAINT
 0384343 LEVEL III MANAGEMENT LLC COMPLAINT
 0382256 LEVEL III TRADING LLC COMPLAINT
NFA is the premier independent provider of efficient and innovative regulatory programs that safeguard the integrity of the futures markets.
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