CFTC Fines Binary Options Provider, Vision Financial Partners $6.5M

[kreslik.news]

The US Commodity Futures Trading Commission (CFTC) has issued an order against Neil Pecker and his company Vision Financial Partners LLC with improperly providing and misappropriating off-exchange binary options, according to a regulatory filing.

The order stemmed from a CFTC enforcement anti-fraud action filed against Vision Financial Partners and Mr. Pecker back on February 16, 2016. The order imposes a permanent trading and registry ban against both Mr. Pecker and Vision Financial Partners, also lobbying a fine of over $6.5 million.

Restitution Demanded

More specifically, the order decreed a restitution payment for defrauding investors that totaled $2,777,130 as well as a $3.75 million civil ... (read more)