The National Futures Association Thursday accepted a broker's withdrawal from membership for two years and the closure of his companies for life to settle two complaints it had filed against Stuart A. Mehler and his companies.
The NFA stated that Forex International Investments, Inc. failed to adequately train its employees and properly file suspicious activity reports.
The National Futures Association penalized Angus Jackson Futures Inc. $10,000 for anti-money laundering program deficiencies in the third regulatory action the organization handed down in a month.
The NFA expelled Mercer Capital Inc. in Portland, Ore., for using "high-pressure sales techniques" and "misleading statements" and Mercer Capital Management in Boca Raton, Fla., for failing to keep proper records and failing to "initiate an adequate anti-money laundering program."
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