{"id":652,"date":"2010-02-20T19:14:41","date_gmt":"2010-02-20T19:14:41","guid":{"rendered":"https:\/\/www.stockbrokerfraudblog.com\/2010\/02\/frontline_advisors_llc_and_fro"},"modified":"2021-09-20T15:44:00","modified_gmt":"2021-09-20T20:44:00","slug":"frontline-advisors-llc-and-fro","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/frontline-advisors-llc-and-fro\/","title":{"rendered":"Frontline Advisors LLC and Frontline Financial, Inc. Propose Texas Securities Fraud Settlement that Includes Permanent NFA Bar"},"content":{"rendered":"

\t\t\t\tThe National Futures Association has accepted Frontline Advisors LLC and Frontline Financial, Inc.’s proposal to permanently remove themselves as a member of the group. The Texas-based Commodity Trading Advisors and Commodity Pool Operators offered the settlement after the NFA filed a complaint against them in 2009 accusing FFI and principal Charles G. Rice of failing to disclose key information to participants in a pool they were running. Among the material information withheld:<\/p>\n

\u2022\tIn exchange for promissory notes, the pool would lend money to third parties \u2022\tWhen issuers of the promissory notes defaulted, the pool sustained losses \u2022\tEven after one note went into default, FFI charged a monthly management fee to participants \u2022\tFFI redeemed its interest in the pool \u2022\tFFI wrote off notes but did not give participants specifics about the write-offs <\/p>\n

The NFA also accused FFI of not filing an annual financial statement, disclosure document, or exemption notice for the fund. Meantime, Rice has also agreed to a withdraw himself as an NFA member for five years. If he decides to reapply for membership, he has to pay a $10,000 fine.<\/p>\n

Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

The National Futures Association has accepted Frontline Advisors LLC and Frontline Financial, Inc.’s proposal to permanently remove themselves as a member of the group. The Texas-based Commodity Trading Advisors and Commodity Pool Operators offered the settlement after the NFA filed a complaint against them in 2009 accusing FFI and principal Charles G. Rice of failing […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3752,3916,3917,3750],"tags":[],"class_list":["post-652","post","type-post","status-publish","format-standard","hentry","category-financial-firms","category-frontline-advisers-llc","category-frontline-financial-inc","category-texas-securities-fraud"],"yoast_head":"\nFrontline Advisors LLC and Frontline Financial, Inc. 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