The US National Futures Association (NFA) has ordered Trinity Trading Group LLC, a commodity pool operator and commodity trading advisor and former NFA Member Forex firm located in Orlando, Florida, not to reapply for NFA membership or act or be listed as a principal of an NFA Member.
NFA has also ordered Bruce R. Schock, a former NFA Associate and prior principal of Trinity Trading, not to apply for NFA membership, or reapply for NFA associate membership, or act or be listed as a principal of an NFA Member.
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 Trinity Trading and Schock, in which they neither admitted nor denied the allegations in the Complaint.
Among other charges, the BCC’s Complaint alleged Trinity Trading failed to create and maintain required records, failed to distribute disclosure documents and account statements to pool participants, and commingled pool assets, in violation of NFA Compliance Rule 2-13(a); and permitted unregistered individuals to act as associated persons without being NFA Associates, in violation of NFA Bylaw 301(b).
The Complaint further alleged Trinity Trading and Schock failed to observe high standards of commercial honor and just and equitable principles of trade in their dealings with Trinity Trading investors, in violation of NFA Compliance Rule 2-4; and failed to comply with NFA promotional material requirements, in violation of NFA Compliance Rule 2-36(g), as incorporated through NFA Compliance Rule 2-39(a).
Finally, the Complaint alleged Trinity Trading and Schock failed to supervise, in violation of NFA Compliance Rule 2-36(e), as incorporated through NFA Compliance Rule 2-39(a).
In its Decision, the BCC found that Trinity Trading and Schock committed the violations alleged against them in the Complaint.
