NFA ACTION:Kingz Capital Management Corporation

On September 30, 2009, NFA issued a Complaint charging Kingz Capital Management Corporation and its principal and associated person David M.S. Krywenky with failure to uphold high ethical standards and failure to supervise. The Complaint also charged KCM with cheating, defrauding or deceiving another person or attempting to do so.

On October 15, 2009, KCM and Krywenky filed an Answer to the Complaint in which they denied the material allegations contained therein.

The NFA ordered KCM was ordered to withdraw its NFA membership and never apply for NFA membership or principal status with any NFA Member. Krywenky was ordered to withdraw his NFA membership and principal status with any NFA Member and not apply for NFA associate membership for three years. Krywenky was also ordered not to apply for NFA membership or principal status with any NFA Member or act in a manner that would require his disclosure as a principal of any NFA Member at any time in the future. Should Krywenky apply for NFA associate membership with any NFA Member following the expiration of the three-year period, he was ordered to pay a $25,000 fine, due and payable in full on or before the date of any such application.

About The Author

Felix Shipkevich

Felix Shipkevich is a Manhattan-based attorney and general counsel for Shipkevich Law Firm. He has extensive experience working with the CFTC and NFA on registration, compliance, and enforcement issues for CPOs, CTAs, FCMs, IBs, and RFEDs. Felix also practices intellectual property and corporate governance law.