National Futures Association

Year 1982Regulated by Government

National Futures Association (NFA) is the industrywide, self-regulatory organization for the U.S. derivatives industry, providing innovative and effective regulatory programs. Designated by the CFTC as a registered futures association, NFA strives every day to safeguard the integrity of the derivatives markets, protect investors and ensure Members meet their regulatory responsibilities.

Disclose broker

Sanction Fine

Marex Spectron

Disclosure summary

Disclosure matching Name matching
Disclosure time 2022-03-30
Penalty amount $ 250,000.00 USD
Reason for punishment The Complaint alleged that Marex allowed unregistered individuals to act as associated persons without being registered as such. The Complaint also alleged that Marex failed to diligently supervise its employees and agents. In its Decision, the BCC found that Marex violated NFA Bylaw 301(b) and Compliance Rule 2-9(a).

Disclosure details

NFA orders London, U.K. introducing broker Marex Spectron International Limited to pay a $250,000 fine

For Immediate Release March 30, 2022 For more information contact: Christie Hillsman, 312-781-1497, chillsman@nfa.futures.org Karen Wuertz, 312-781-1335, kwuertz@nfa.futures.org NFA orders London, U.K. introducing broker Marex Spectron International Limited to pay a $250,000 fine March 30, Chicago—NFA has ordered London, U.K. introducing broker Member Marex Spectron International Limited (Marex) to pay a $250,000 fine. The Decision, issued by NFA's Business Conduct Committee (BCC), is based on a Complaint issued by the BCC and a settlement offer submitted by Marex, in which it neither admitted nor denied the allegations. The Complaint alleged that Marex allowed unregistered individuals to act as associated persons without being registered as such. The Complaint also alleged that Marex failed to diligently supervise its employees and agents. In its Decision, the BCC found that Marex violated NFA Bylaw 301(b) and Compliance Rule 2-9(a). The complete text of the Complaint and Decision can be viewed on NFA's website.

Annex

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More regulatory disclosure

Sanction

2020-06-01

NFA permanently bars Hong Kong commodity pool operator Bainbridge Asia Limited and its principal Wai Man Yip from membership