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NFA Issues Enforcement Actions against Three Firms

The NFA issued separate enforcement actions against three firms.

  • McElhannon Group. The NFA charged McElhannon Group and its principal with failing to cooperate promptly and fully with the NFA during the course of its examination and investigation of the firm and with using false and misleading promotional material.
  • RNS Holding Group. The NFA charged RNS Holding Group and its owner with failing to uphold "high standards of commercial honor" by inter alia violating NFA Compliance Rule C.R.2-45, which prohibits loans by commodity pools to CPOs and affiliated entities.
  • Grace Financial Group. The NFA charged Grace Financial Group with failing to supervise by (i) failing to keep accurate financial records, (ii) willfully providing the NFA with materially false and misleading information, (iii) and allowing an unregistered individual to act in a capacity requiring registration.

See: McElhannon Group; RNS Holding Group; Grace Financial Group.

Tags

Regulated Activities
Marketing
Regulated Entities
FCMs and IBs, Floor Brokers
Body of Law
CEA Regulation
Jurisdiction
US - Federal
Organization
CFTC, NFA, CFTC Markets
Sub-Author
NFA