NFA Orders Commodity Trading Advisory Firm to Permanently Withdraw from NFA Membership and Sanctions Its Principals

The National Futures Association ("NFA") has ordered a CTA firm and its principals to withdraw from NFA membership for charging excessive fees and failing to provide customers with a break-even analysis. Additionally, the NFA found that Cap Ex used a misleading disclosure document, conducted business with an entity that was required to be registered as a CPO but was not registered in such capacity, and failed to list an entity as a principal of the firm. Cap Ex principals Mr. Bramlett and Mr. Johnson are banned from applying for NFA membership or associate membership for a period of two years and may not act as principals for three years.

See: Complaint; Decision; Press Release.