NFA Fines X-Change Financial Access $100,000

[kreslik.news]

The National Futures Association (NFA) announced on Tuesday that it has fined X-Change Financial Access LLC (XFA) $100,000. The trade execution services provider was found to have executed transactions for an individual who had been banned from trading as a result of a Member Responsibility Action (MRA) issued by the NFA.

Yesterday’s decision stems from an MRA issued against Jonathan Hansen, the owner of a commodity pool operator and commodity trading advisor, in September of 2013. The MRA meant Hansen was forbidden from disbursing or transferring any funds, other than to margin existing positions, from any trading accounts or from any ... (read more)