The following is from the NFA...
October 12, Chicago - National Futures Association (NFA) has revoked the registration of William S. Scott of Miami, Florida. Scott is a Commodity Trading Advisor and is the sole principal and associated person (AP).
A designated Subcommittee of NFA's Membership Committee issued the Final Order revoking registration because Scott is subject to an outstanding order from the Florida Supreme Court suspending his license to practice law in the state. Additionally, the Subcommittee found that Scott engaged in conduct, as described by the Florida Supreme Court's decision and corroborated at the hearing before the Subcommittee, that demonstrates a lack of honesty, an inability to comply with regulatory requirements and a potential for similar behavior in the futures industry. The Subcommittee also found that Scott has not presented evidence that his continued registration would not pose a substantial risk to the public.
The Final Order becomes effective November 4, 2011. Scott may file a Notice of Appeal with the Commodity Futures Trading Commission (CFTC).
The complete text of the Final Order can be viewed on NFA's website (www.nfa.futures.org).
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