CFTC seeks to revoke registrations of Purvesh Mankad, CTAX Partners and CTAX Series
The CFTC commenced actions to revoke the registrations of Purvesh Mankad, CTAX Partners, LLC and CTAX Series, LLC.
The Commodity Futures Trading Commission (CFTC) today announced it commenced actions to revoke the registrations of Purvesh Mankad, and his affiliated entities CTAX Partners, LLC and CTAX Series, LLC.
The CFTC’s actions are based on the injunctions entered and findings made by the U.S. District Court for the District of Arizona in CFTC v. Mankad.
The court found that each violated antifraud provisions of the Commodity Exchange Act (CEA).
CTAX Partners, CTAX Series, and Mankad have been registered with the CFTC as an introducing broker, a commodity pool operator, and an associated person of CTAX Partners and CTAX Series, respectively, since 2013.
The CFTC’s Notice of Intent states their registrations should be revoked because they were all found to have engaged in, among other things, fraud and misappropriation, in violation of the CEA, and were permanently enjoined from acting in their respective registered capacities.
Maria Nikolova
Maria has been engaged in journalism for more than 17 years, providing Forex industry coverage for the past 10 years. Before joining FNG she was Managing Editor at FinanceFeeds. Prior to that, she worked at LeapRate. Maria has a Philosophy degree from the St. Kliment Ochridski university in Sofia. She has specialized in Cognitive Science in Vienna. Her interests include psychology, AI, and linguistics.Related Posts
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