February 15, Chicago - National Futures Association (NFA) has permanently barred from NFA membership Vista Trading Advisors, Inc. (Vista Trading Advisors), an Introducing Broker located in Delray Beach, Florida. Matthew E. Meyer, president of Vista Trading Advisors, was also barred for a period of five years. The Decision, issued by an NFA Hearing Panel, is based on an NFA Complaint filed in August 2010 and a settlement offer submitted by Vista Trading Advisors and Meyer.
The Panel found that Vista Trading Advisors recommended trades to customers that maximized commissions to the firm without regard for the best interests of their customers. Additionally, the Panel found that Vista Trading Advisors made deceptive solicitations and failed to diligently supervise the firm's operations.
In the event that Meyer reapplies for NFA membership after the expiration of the five-year bar, he must also pay a fine of $25,000 and is required to record all conversations with customers or prospective customers for a period of six months.
In January 2011, NFA sanctioned two other associated persons of Vista Trading Advisors, Francis R. Zofay and Seth Goldberger. See previous press release.
The complete text of the Complaint and Decision can be found on NFA's website (www.nfa.futures.org).
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