NFA orders New Jersey-based commodity pool operator Scalebuilder LLC to pay a $200,000 fine

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NFA orders New Jersey-based commodity pool operator Scalebuilder LLC to pay a $200,000 fine

October 30, Chicago--NFA has ordered Scalebuilder LLC (Scalebuilder) to pay a $200,000 fine. Scalebuilder is an NFA Member commodity pool operator located in Summit, N.J.

The Decision, issued by NFA's Business Conduct Committee (BCC), is based on a Complaint issued by the BCC and a settlement offer submitted by Scalebuilder, in which the firm neither admitted nor denied the allegations in the Complaint.

In its Decision, the BCC found that Scalebuilder allowed unregistered individuals to act as associated persons without being NFA Associates in violation of NFA Bylaw 301(b) and failed to report individuals as principals of the firm in violation of NFA Registration Rule 208. The BCC also found Scalebuilder failed to supervise its operations and employees, in violation of NFA Compliance Rule 2-9(a).

The complete text of the Complaint and Decision can be viewed on NFA's website.