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CONCORDE TRADING GROUP, INC
CASE OUTCOME: PERMANENT WITHDRAWAL FROM NFA MEMBERSHIP
NFA ID:
0210383
Complaint:
On October 11, 2001, NFA's Business Conduct Committee ("BCC") issued a Complaint to Concorde Trading Group, Inc. ("Concorde"), Arthur J. Schlecht ("Schlecht"), Roberto B. Rivera ("Rivera"), Mark T. Hauze ("Hauze"), Charles Boratgis ("Boratgis"), Eric E. Dahlitz ("Dahlitz"), Jessica Z. Epstein ("Epstein"), Craig W. Erdmann ("Erdmann"), Michael W. Malott ("Malott"), Xavier J. Sainz ("Sainz"), Jeffrey H. Stanley ("Stanley"), Patrick J. Turner ("Turner") and Gary D. Weeks ("Weeks"). The Complaint alleges that Concorde, Boratgis, Dahlitz, Epstein, Erdmann, Malott, Sainz, Stanley, Turner and Weeks made deceptive and misleading sales solicitations, in violation of NFA Compliance Rules 2-2(a) and 2-29(a)(1). The Complaint also alleges that Concorde, Schlecht, Rivera and Hauze failed to diligently supervise employees and agents in the conduct of their commodity futures activities, in violation of NFA Compliance Rule 2-9(a). Decision:
On May 21, 2002, NFA's Hearing Panel ("Panel") issued a Decision accepting Concorde's, Rivera's, Dahlitz', Erdmann's, Malott's, Sainz' and Stanley's settlement offers in which they neither admitted nor denied the allegations of the Complaint. The Panel ordered the following: Concorde's NFA membership will be terminated upon the issuance of the Decision and Concorde will never again apply for NFA membership.
Source: National Futures Association
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