The Nationwide Futures Affiliation (NFA) has ordered Oscar Gruss & Son Inc. to pay a $140,000 wonderful.
Oscar Gruss & Son is an introducing dealer (IB) Member of NFA positioned in New York, N.Y.
The Resolution, issued by NFA’s Enterprise Conduct Committee (BCC), is predicated on a Criticism issued by the BCC and a settlement provide submitted by Oscar Gruss & Son, by which the agency neither admitted nor denied the allegations within the Criticism.
The Criticism charged Oscar Gruss & Son with failing to adjust to its communication recordkeeping obligations, in violation of NFA Compliance Rule 2-10(a), and permitting unregistered people to behave as related individuals (AP) with out being registered as APs and NFA Associates, in violation of NFA Bylaw 301(b).
The Criticism additional charged Oscar Gruss & Son with a failure to oversee, in violation of NFA Compliance Rule 2-9(a).
In its Resolution, the BCC discovered that Oscar Gruss & Son violated NFA Compliance Guidelines 2-9(a) and 2-10(a), and NFA Bylaw 301(b).