6/20/2013 NFA COMPLAINT DECISION: COURTNEY DAVID SMITH: CHEAT, DEFRAUD, DECEIVE FOREX CUSTOMERS. $10,000 fine

copied from the nfa website

resource link http://www.nfa.futures.org/basicnet/Case.aspx?entityid=0006615&case=12BCC00041&contrib=NFA

_________________________________________________

CASE DOCUMENTS http://www.nfa.futures.org/basicnet/CaseDocument.aspx?seqnum=3461

COMPLAINT:

On December 4, 2012, NFA issued a Complaint charging Smith with using misleading promotional material and failing to produce records to NFA.

ANSWER:

On January 4, 2013, Smith filed an Answer to the Complaint in which he denied the material allegations contained therein.

DECISION:

On June 5, 2013, pursuant to a settlement offer submitted by Smith, he was ordered to pay a $10,000 fine. Smith was also ordered, for two years, to submit all futures and forex promotional material used by Smith – and any firm of which he is a principal – to NFA’s Advertising Regulatory Team (ART) promptly after first using such promotional material; provided, however, that, after one year, NFA’s ART may, in its sole discretion, discharge Smith – and any firm of which he is a principal – from any further obligation to submit such promotional material to NFA.

0006615 SMITH, COURTNEY DAVID • C.R.2-5 – FAILURE TO COOPERATE W/ NFA
• C.R.2-29(b)(1) – USE OF DECEPTIVE PROMO MATER.
• C.R.2-36(b)(1) – CHEAT, DEFRAUD, DECEIVE FOREX CUSTOMERS
• C.R.2-29(b)(2) – MISSTATEMT/OMISSION OF FACT PROMP
Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s