National Futures Association (NFA) has levied a $75,000 fine against Option Investments, Inc. (otherwise known as OpVest), a Commodity Trading Advisor and an Introducing Broker NFA Member located in Irvine, California. Two principals of the firm, were also sanctioned by NFA, along with several other associated persons.
The Decision, issued by NFA’s Business Conduct Committee, is based on an NFA Complaint filed in March 2012 that charged OpVest with failing to observe high standards of commercial honor and just and equitable principles of trade by recommending trades to customers that maximized commissions without regard for the best interests of their customers. The Complaint also alleged OpVest failed to diligently supervise trade recommendations made by OpVest’s associated persons. The NFA sanction requires OpVest to pay $75,000 in fines and to put together a process to detect and remediate abusive trading recommendations by its brokers going forward.
The foregoing information, which is publicly available on the NFA’s website, is being provided by The White Law Group. The White Law Group is a national commodities fraud, NFA arbitration, and investor protection law firm with offices in Chicago, Illinois and Boca Raton, Florida.
If you believe you have been the victim of a commodities fraud, please feel free to call the commodities attorneys of The White Law Group at 312/238-9650 for a free consultation.
For more information on The White Law Group visit http://www.whitesecuritieslaw.com.