The U.S. Commodity Futures Trading Commission today announced the filing of a civil enforcement action in the U.S. District Court for the Southern District of New York, charging Kevin Michael Symons of Foothill Ranch, California, his wholly-owned company, FTS Financial, Inc. (FTS) of Irvine, California, and Jerry Austin Simmons of Charlotte, North Carolina with the fraudulent promotion of Simmons’ “Real Time Trade Room” (the Room), an online futures “trading” forum marketed by Defendants as a way to observe Simmons as he purported to trade futures contracts “live.” Additionally, the CFTC’s Complaint charges Simmons with soliciting clients to open managed futures trading accounts without being registered with the CFTC as an Associated Person (AP) of a Commodity Trading Advisor (CTA).
read more...↧