10/28/2021 | Press release | Distributed by Public on 10/28/2021 07:56
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NFA orders London, U.K. introducing broker Freight Investor Services Limited to pay a $140,000 fine
October 28, Chicago-NFA has ordered Freight Investor Services Limited (Freight), an NFA Member introducing broker located in London, U.K., to pay a $140,000 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 Freight, in which it neither admitted nor denied the allegations. The Committee found that Freight failed to keep full, complete and systematic records of all transactions relating to Freight's business of dealing in commodity interests. The Committee also found that Freight allowed an unregistered individual to act as an associated person without being registered in such capacity and an NFA Associate.