Shipkevich Bitcoin and ICO Attorney
Felix Shipkevich April 15, 2010

On June 10, 2009, NFA issued a Complaint alleging that Brewer Futures Group failed to observe high standards of commercial honor and just and equitable principles of trade; failed to maintain required books and records; failed to maintain required capital; and failed to give notice. The Complaint also alleged that Brewer and Arts, the firm’s Principals and APs failed to supervise.

On September 3, 2009, BFG, Brewer and Arts filed an Answer to the Complaint in which they denied the material allegations contained therein.

On April 15, 2010, BFG and Brewer were ordered to be jointly and severally liable for a $100,000 fine. In addition, neither BFG nor any other NFA Member of which Brewer is a principal shall be registered as an FCM in the future, and in the event that BFG or any other NFA Member of which Brewer is a principal is registered as an IB at any time after 30 days have passed following the issuance of the Decision, such NFA Member will only operate pursuant to a valid guarantee agree. Arts’ status as a principal of an NFA Member is terminated upon the issuance of the Decision and Arts was ordered to never apply to be an NFA Member or a principal of an NFA Member or act in any capacity that would require her to be listed as a principal of an NFA Member at any time in the future. Arts was also ordered to pay a $5,000 fine.

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