NFA Bars FCM and CTA from Membership for Misappropriating Customer Funds

The National Futures Association ("NFA") barred and fined futures commission merchant ("FCM") Vision Financial Markets ("Vision Financial") and commodity trading adviser ("CTA") Ace Investment Strategists ("Ace Investment") from membership for misappropriating customer funds related to trade allocations.

According to the complaint, Vision Financial facilitated Ace Investment's actions, even though the firm was in a position to identity and stop the abuses. The complaint stated that Vision Financial has had a "long history of supervisory issues," as it has been a subject of four prior complaints from the NFA.

See: NFA Complaint and Decision Against Vision Financial Markets; Complaint and Decision Against Ace Investment.
Related news: CFTC Orders Vision Financial Markets LLC to Pay Penalty for Violations of Fund Segregation Requirements(September 27, 2013).