The United States National Futures Association (NFA) has ordered Sigma Broking Limited to pay a $150,000 fine.
Sigma Broking is an introducing broker Member of NFA located in London, United Kingdom.
The Decision, issued by an NFA Hearing Panel, is based on a Complaint issued by NFA’s Business Conduct Committee and a settlement offer submitted by Sigma Broking, in which the firm neither admitted nor denied the allegations in the Complaint.
In its Decision, the Hearing Panel found that Sigma Broking:
- failed to conduct annual anti-money laundering audits, in violation of NFA Compliance Rule 2-9(c);
- failed to keep written pre-trade communications readily accessible, in violation of NFA Compliance Rule 2-10(a); and
- failed to supervise, in violation of NFA Compliance Rule 2-9(a).
