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On 3 of September 2009, I published in this blog an extraordinary analysis made by Adam Hewison about the price of gold we were looking for to make sound financial decisions. Due to the levels the price of gold is reaching now, I have decided to republish it : so that you can review on the front page ; those of my new readers and permanent that have not had the time to view it.Also you can find the article in my blog's archive.
Gold is approaching the price we have been expecting to make a sound decision about it in our investments as Adam Hewison has been showing us the last few weeks.
For Immediate Release
For More Information Contact:
Larry Dyekman (312) 781-1372, firstname.lastname@example.org
Karen Wuertz (312) 781-1335, email@example.com NFA permanently bars Florida futures firm, Global Trading Center LLC
September 8, Chicago - National Futures Association (NFA) has permanently barred from NFA membership, Global Trading Center LLC (Global Trading), a former Introducing Broker located in Boca Raton, Florida. NFA also barred Global Trading's principal, Harris Shapiro for a period of five years. The Decision, issued by an NFA Hearing Panel, is based on an NFA Complaint filed in October 2008 and a settlement offer submitted by Global Trading and Shapiro.
The Complaint charged that Global Trading and Shapiro used high-pressure sales tactics, made deceptive and misleading sales solicitations to Global Trading's customers and failed to disclose that most of their customers lost money. Instead, Global Trading and Shapiro recommended trading strategies that served to only increase the amount of commissions and fees that Global Trading and Shapiro received. The Complaint also alleged that Global Trading and Shapiro failed to cooperate with an NFA audit and used settlement agreements that prohibited their customers from providing information to NFA. Additionally, the Complaint charged that Global Trading and Shapiro failed to maintain current books and records and failed to adequately supervise Global Trading's sales force and operations.
The Decision and settlement further provided that, at the end of Shapiro's five year membership bar, if Shapiro reapplies for NFA membership or becomes a principal of an NFA Member, then he must pay a fine of $250,000 and the facts and violations alleged in the Complaint in this case shall be deemed admitted and shall not be contested by him, and may be used as the sole basis for denying him registration, NFA membership or associate membership, and/or principal status.
NFA previously barred Kaye Simone White-Webster, an associated person of Global Trading in July 2009 for a period of five years for misleading sales solicitations and high-pressure sales tactics. See previous press release.
The complete text of the Complaint and Decision can be found on NFA's website (http://www.nfa.futures.org)
NFA is the premier independent provider of innovative and efficient regulatory programs that safeguard the integrity of the futures markets.