NFA ACTION: Stonebridge Financial Services LLC

The NFA issued a Decision following a hearing at which Morris failed to appear. The Hearing Panel found that Morris violated NFA Compliance Rules 2-2(a) and 2-29(a)(1), but dismissed with prejudice the allegation that she violated NFA Compliance Rule 2-29(a)(2). The Hearing Panel permanently barred Morris from NFA membership, associate membership and from acting as a principal of an NFA Member.

On December 23, 2008, NFA issued a Complaint charging Morris (a/k/a Cynthia Goldberg), formerly an associated person at Stonebridge Financial Services LLC, with making deceptive, misleading and high-pressure sales solicitations. On April 27, 2009, Morris filed an Answer to the Complaint in which she denied the material allegations contained therein.

C.R.2-2(a) – CHEAT,FRAUD DECEIVE CUSTOMERS
C.R.2-29(a)(1) – FRAUDULENT COMM. TO PUBLIC PROHIBITED
C.R.2-29(a)(2) – HIGH PRESSURE COMM. PROHIBITED

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.