NFA bars Robert Gray of Forex Liquidity LLC from membership for 10 years

I advise everyone to spend 5 minutes reading the short document embedded below - it's a prime example of what kind of people we sometime have to deal with in this market.

December 6, Chicago - National Futures Association (NFA) has barred Robert F. Gray from NFA membership for a period of ten years. Gray was previously a principal of Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term LLC (FXLQ) in Santa Ana, California. FXLQ is a Futures Commission Merchant and Forex Dealer Member of NFA. The Decision, issued by an NFA Hearing Panel, is based on an NFA Complaint filed in September 2008.

The Hearing Panel found that Gray failed to promptly and fully cooperate with NFA in its investigation of FXLQ's business, willfully provided NFA with false and misleading information, and failed to supervise FXLQ's financial condition.

In December 2007, NFA issued a Member Responsibility Action (MRA) against FXLQ because the firm failed to demonstrate that it met capital requirements and had provided false and misleading information to NFA. See previous press release. Shortly after the issuance of the MRA, the Commodity Futures Trading Commission (CFTC) filed and won an asset freeze against FXLQ. FXLQ is currently under receivership.

NFA is the premier independent provider of innovative and efficient regulatory programs that safeguard the integrity of the futures markets.

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