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Written by 2:14 pm Blog, Securities Fraud Articles

NFA revokes registration of several associated persons

National Futures Association (NFA) has revoked the registrations of Jeremy J. Grena, Nabil P. Niman, Nicholas P. Payne, William M. Rill and Alexander M. Silverman, former associated persons (AP) of Pioneer Commodities LLC (Pioneer) and Windsor Wealth Management LLC, firms based in Boca Raton, Florida.

A designated Subcommittee of NFA’s Membership Committee issued the Final Orders revoking registration because the APs had misrepresented that English was not their primary language in order to receive additional time to complete the Series 3 examination, a proficiency exam all individuals registering to become an AP must pass.

The Subcommittee declined to revoke the registrations of Teresia A. Bactawar and Lusay A. Wooten. The Subcommittee found that Wooten and Bactawar truthfully represented that English was not their primary language.

The Final Orders reinforce NFA’s continuing efforts to prevent proficiency exam abuses. Pioneer, a former introducing broker Member of NFA, was permanently barred from NFA membership in August 2009 for its misrepresentations and failure to supervise its Series 3 training.

The Final Orders become effective April 1, 2010. Grena, Nilman, Payne, Rill and Silverman may file a Notice of Appeal with the Commodity Futures Trading Commission (CFTC).

This information which is publicly available on NFA’s website has been provided by The White Law Group, LLC.

If you have questions about investments you made with Jeremy J. Grena, Nabil P. Niman, Nicholas P. Payne, William M. Rill, Alexander M. Silverman, Pioneer Commodities LLC and Windsor Wealth Management, LLC, the securities attorneys of The White Law Group may be able to help.  To speak with a securities attorney, please call the firm’s Chicago office at 312/238-9650.

The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm with offices in Chicago, Illinois and Boca Raton, Florida.

For more information on The White Law Group, please visit our website at https://whitesecuritieslaw.com.

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