NFA fines Sigma Broking $150,000
NFA orders London, UK introduction broker Sigma Broking Limited to pay $150,000 fine。
The National Futures Association (NFA) has ordered Sigma Broking Limited to pay a $150,000 fine. The company, based in London, UK, is an NFA introducing broker member.
The decision was made by an NFA Hearing Panel based on a complaint from the NFA’s Business Conduct Committee and a settlement offer submitted by Sigma Broking, in which Sigma Broking neither admitted nor denied the allegations in the complaint.
The Hearing Panel found that Sigma Broking:
- Failed to conduct an annual anti-money laundering audit, violating NFA Compliance Rule 2-9(c);
- Violated NFA Compliance Rule 2-10(a) by failing to maintain pre-trade written communications in a readily accessible manner;
- Failed to supervise, in violation of NFA Compliance Rule 2-9(a).
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