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COMMODITY CONSULTANTS INTERNATIONAL INC
CASE OUTCOME: PERMANENT WITHDRAWAL FROM NFA MEMBERSHIP
NFA ID:
0310036
Complaint:
On July 17, 2002, NFA's Business Conduct Committee ("BCC") issued a Complaint to Todd James Snively ("Snively"), Commodity Consultants International, Inc. ("CCI"), Futurewise Trading Group, Inc. ("Futurewise"), Gregory Doublet ("Doublet") and Kevin B. Harrington ("Harrington"). The Complaint alleges that Snively, CCI, Futurewise, Doublet and Harrington cheated, defrauded or deceived, or attempted to cheat, defraud or deceive commodity futures customers, in violation of NFA Compliance Rule 2-2(a); and bucketed commodity futures orders or engaged in a business that is in the nature of a bucket shop, in violation of NFA Compliance Rule 2-2(b). The Complaint also alleges that Snively, CCI and Futurewise converted customer funds, in violation of NFA Compliance Rule 2-2(h). The Complaint alleges that Snively lied to NFA, in violation of NFA Compliance Rule 2-2(f). Further, the Complaint alleges that Snively and Futurewise presented fraudulent trading information, in violation of NFA Compliance Rules 2-2(a) and 2-29(a)(1). In addition, the Complaint alleges that Snively, CCI and Futurewise used deceptive promotional material, in violation of NFA Compliance Rules 2-29(b)(1) and (b)(2). The Complaint also alleges that Futurewise failed to maintain required commodity pool records, in violation of NFA COmpliance Rule 2-13. Finally, the Complaint alleges that Snively, CCI, Futurewise, Doublet and Harrington failred to uphold high standards of commercial honor and just and equitable principles of trade, in violation of NFA Compliance Rule 2-4. Decision:
DECISION - Snively, CCI and Futurewise:
On August 26, 2006, NFA's BCC issued a Decision to Snively, CCI and Futurewise accepting their settlement offer in which they neither admitted nor denied the allegations of the Complaint. The BCC ordered that Snively's NFA associate membership and principal status with any and all NFA Members shall terminate upon the issuance of a Decision and that Snively shall never apply for NFA membership, associate membership or principal status with any NFA Member in the future. The BCC also ordered that CCI's NFA membership shall terminate upon the issuance of a Decision and that CCI shall never apply for NFA membership in the future. Finally, the BCC ordered that Futurewise's NFA membership shall terminate upon the issuance of a Decision and that Futurewise shall never apply for NFA membership in the future. This Decision becomes effective September 10, 2002.
Source: National Futures Association
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