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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
Disclosure summary
  • Disclosure matching Website matching
  • Disclosure time 2021-05-20
  • Penalty amount $ 75,000.00 USD
  • Reason for punishment 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 Abbott Futures.
Disclosure details

NFA orders Plymouth, Minn. introducing broker Roy E. Abbott Futures, Inc. to pay a $75,000 fine and approximately $198,000 in restitution to customers

News Releases 2022 | 2021 | 2020 | 2019 | 2018 | Show more years Email This to a FriendFor Immediate Release May 20, 2021 For more information contact: Christie Hillsman, 312-781-1497, chillsman@nfa.futures.org Karen Wuertz, 312-781-1335, kwuertz@nfa.futures.org NFA orders Plymouth, Minn. introducing broker Roy E. Abbott Futures, Inc. to pay a $75,000 fine and approximately $198,000 in restitution to customers May 20, Chicago—NFA has ordered Plymouth, Minn. introducing broker Roy E. Abbott Futures, Inc. (Abbott Futures) to pay a $75,000 fine and approximately $198,000 in restitution to customers who incurred net losses resulting from improper trading activity by a former employee of the firm. 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 Abbott Futures. The Complaint alleged that Abbott Futures, acting through its former employee, utilized unauthorized trades and fictitious transfer requests to improperly allocate winning trades to favored customer accounts, while allocating losing or unprofitable trades to non-favored customer accounts. The Complaint also alleged that Abbott Futures, acting through the same former employee, exercised discretion over customer accounts without written authorization. Finally, the Complaint alleged that Abbott Futures failed to adequately supervise the former employee and the firm's operations. In its Decision, the BCC found that Abbott Futures committed the alleged rule violations. NFA thanks CME Group for its assistance in this matter. The complete text of the Complaint and Decision can be viewed on NFA's website.
Annex
More regulatory disclosure

Danger

2024-09-04
BTKAID
bitkaid

Danger

2021-10-13

Danger

2023-01-01

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