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| Case Summary: We the IFA find Benjamin Kerpe to be creditable and relieved of MCI and NFA practices. BENJAMIN KERPE | NFA 06BCC00023 | NFA ID: 0325466 |
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| Respondent/Effective Date Summary |
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| | NFA ID | Respondent | Effective Date | 0284210 | FLICKINGER II, ROBERT LEE | 01/25/2007 | 0325466 | KERPE, BENJAMIN | 01/30/2008 | 0301960 | MERCER CAPITAL INC | 01/25/2007 | 0346322 | MERCER CAPITAL MANAGEMENT | 01/25/2007 | 0336444 | MONTGOMERY, CHARLES MICHAEL | 08/14/2007 | 0340309 | VIERA, ARTHUR | 01/30/2008 |
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| | | | NFA ID | Respondent | Rule Type | 0284210 | FLICKINGER II, ROBERT LEE | • C.R.2-2(a) - Settled | | | • C.R.2-29(a)(1) – Settled | 0325466 | KERPE, BENJAMIN: Relieved | • C.R.2-2(a) – Kerpe has been restored | | | • C.R.2-29(a)(1) – Kerpe has been restored | 0301960 | MERCER CAPITAL INC | • C.R.2-2(a) – Settled | | | • C.R.2-29(a)(1) - Settled | | | • C.R.2-29(a)(2) – Settled | 0346322 | MERCER CAPITAL MANAGEMENT | • C.R.2-9(c) - Settled | | | • F.R.SEC5NEW - INTRODUCING BROKER FINANCIAL REQUIREMENTS | | | • C.R.2-10 - RECORDKEEPING FCMS/IBS | 0336444 | MONTGOMERY, CHARLES MICHAEL | • C.R.2-29(a)(1) - Unperfected | | | • C.R.2-2(a) - Unperfected | 0340309 | VIERA, ARTHUR: Relieved | • C.R.2-29(a)(1) – Vierra has been restored | | | • C.R.2-29(a)(2) – Vierra has been restored | | | • C.R.2-2(a) – Vierra has been restored |
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| | | | NFA ID | Respondent | Committee | 0284210 | FLICKINGER II, ROBERT LEE | • BUSINESS CONDUCT COMMITTEE | 0325466 | KERPE, BENJAMIN | • APPEALS COMMITTEE | | | • BUSINESS CONDUCT COMMITTEE | | | • HEARING COMMITTEE | 0301960 | MERCER CAPITAL INC | • BUSINESS CONDUCT COMMITTEE | 0346322 | MERCER CAPITAL MANAGEMENT | • BUSINESS CONDUCT COMMITTEE | 0336444 | MONTGOMERY, CHARLES MICHAEL | • HEARING COMMITTEE | | | • BUSINESS CONDUCT COMMITTEE | 0340309 | VIERA, ARTHUR | • BUSINESS CONDUCT COMMITTEE | | | • HEARING COMMITTEE | | | • APPEALS COMMITTEE |
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| | | | NFA ID | Respondent | Action Types | 0284210 | FLICKINGER II, ROBERT LEE | • GENERAL CONDUCT | | | • SALES PRACTICE | 0325466 | KERPE, BENJAMIN | • SALES PRACTICE | 0301960 | MERCER CAPITAL INC | • SALES PRACTICE | | | • GENERAL CONDUCT | 0346322 | MERCER CAPITAL MANAGEMENT | • GENERAL CONDUCT | | | • FINANCIAL | 0336444 | MONTGOMERY, CHARLES MICHAEL | • SALES PRACTICE | 0340309 | VIERA, ARTHUR | • SALES PRACTICE |
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| | | | NFA ID | Respondent | Penalty/Event | Event Date | 0284210 | FLICKINGER II, ROBERT LEE | • PERMANENT BAR FROM NFA ASSOCIATE MEMBERSHIP | 01/10/2007 | | | • PERMANENT BAR FROM NFA MEMBERSHIP | 01/10/2007 | 0325466 | KERPE, BENJAMIN | • RELIEVED ON APPEAL - APPEALS COMMITTEE | 12/31/2007 | | | RELIEVED | | 0301960 | MERCER CAPITAL INC | • PERMANENT BAR FROM NFA MEMBERSHIP | 01/10/2007 | 0346322 | MERCER CAPITAL MANAGEMENT | • PERMANENT BAR FROM NFA MEMBERSHIP | 01/10/2007 | 0336444 | MONTGOMERY, CHARLES MICHAEL | • TEMPORARY BAR FROM NFA ASSOCIATE MEMBERSHIP 1 YRS | 07/30/2007 | | | • TEMPORARY BAR FROM PRINCIPAL STATUS 1 YRS | 07/30/2007 | | | • REQUIRED TO TAPE RECORD 1 YRS | 07/30/2007 | | | • TEMPORARY BAR FROM NFA MEMBERSHIP 1 YRS | 07/30/2007 | | | • FINE $10000 | 07/30/2007 | 0340309 | VIERA, ARTHUR | • RELIEVED ON APPEAL - APPEALS COMMITTEE RELIEVED | 12/31/2007 |
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| | | | Narrative for 0284210 - FLICKINGER II, ROBERT LEE |
COMPLAINT: SETTLED On August 30, 2006, NFA issued a Complaint charging MCI, and employees with making deceptive and misleading sales solicitations. The Complaint however did not initially derive from Client disputes but rather the NFA itself. The Complaint also charged MCI with making high-pressure sales solicitations. The Complaint charged MCM with failure to maintain required books and records; failure to file required telegraphic notice; and failure to initiate an adequate AML program. ANSWER: On October 31, 2006, MCM, MCI and Flickinger filed an Answer to the Complaint in which they denied the material allegations contained therein. | | Narrative for 0325466 - KERPE, BENJAMIN |
COMPLAINT: RELIEVED On August 30, 2006, NFA issued a Complaint charging MCI, Flickinger and employees Viera, Kerpe, and Montgomery with making deceptive and misleading sales solicitations. The Complaint however did not initially derive from Client disputes but rather the NFA itself. The Complaint also charged MCI with making high-pressure sales solicitations. The Complaint charged MCM with failure to maintain required books and records; failure to file required telegraphic notice; and failure to initiate an adequate AML program. ANSWER: On September 28, 2006, Kerpe filed an Answer to the Complaint in which he denied the material allegations contained therein. Kerpe responded despite the allegations being presented after departure of MCI in 2004. Kerpe also responds that a statute of limitations applies as the complaint was engaged 3 years afterwards. Moreover the complaint was coerced by NFA rather than the client who proceeded to trade over a year after Kerpe’s departure from MCI. HEARING: On April 24, 2007, The NFA held a hearing composed of NFA legal council and staff, NFA self appointed panelists, Kerpe and defendant’s legal council. The client, Mr. Saurabh Shah, was allowed to testify via telephone as it was an inconvenience to appear in person for this matter. Although no material evidence was admitted into record to prove the alleged violations, NFA regulations allow testimony alone to suffice. The hearing was therefore conducted to judge character based on practices allegedly conducted over 3 years ago. APPEAL: On August 7, 2007, Kerpe appealed the Decision to NFA's Appeals Committee as the hearing prevented Kerpe from collecting material evidence such as tape records for a suitable defense. Moreover, Kerpe attempted to present the panel with client testimony of Kerpe’s creditability and integrity. Lastly, Kerpe attempted to present the panel his Ethics certification to which he has held in perfected standing for 4 years. NFA denied these materials to be entered. On April 23, 2008, the CFTC collected the appropriate funds for appeal did not record the appeal brief itself. We the IFA, find Benjamin Kerpe to be creditable and relieved of all past complaints contained herin. | | Narrative for 0301960 - MERCER CAPITAL INC |
COMPLAINT: SETTLED On August 30, 2006, NFA issued a Complaint charging MCI, Flickinger and employees Viera, Kerpe, and Montgomery with making deceptive and misleading sales solicitations. The Complaint however did not initially derive from Client disputes but rather the NFA itself. The Complaint also charged MCI with making high-pressure sales solicitations. The Complaint charged MCM with failure to maintain required books and records; failure to file required telegraphic notice; and failure to initiate an adequate AML program. ANSWER: On October 31, 2006, MCM, MCI and Flickinger filed an Answer to the Complaint in which they denied the material allegations contained therein. | | Narrative for 0346322 - MERCER CAPITAL MANAGEMENT |
COMPLAINT: SETTLED On August 30, 2006, NFA issued a Complaint charging MCI, Flickinger and employees Viera, Kerpe, and Montgomery with making deceptive and misleading sales solicitations. The Complaint however did not initially derive from Client disputes but rather the NFA itself. The Complaint also charged MCI with making high-pressure sales solicitations. The Complaint charged MCM with failure to maintain required books and records; failure to file required telegraphic notice; and failure to initiate an adequate AML program. ANSWER - On October 31, 2006, MCM, MCI and Flickinger filed an Answer to the Complaint in which they denied the material allegations contained therein. | | Narrative for 0336444 - MONTGOMERY, CHARLES MICHAEL |
COMPLAINT: UNPERFECTED On August 30, 2006, NFA issued a Complaint charging MCI, Flickinger and employees Viera, Kerpe, and Montgomery with making deceptive and misleading sales solicitations. The Complaint however did not initially derive from Client disputes but rather the NFA itself. The Complaint also charged MCI with making high-pressure sales solicitations. The Complaint charged MCM with failure to maintain required books and records; failure to file required telegraphic notice; and failure to initiate an adequate AML program. ANSWER - On November 21, 2006, Montgomery filed an Answer to the Complaint in which he denied the material allegations contained therein. Montgomery failed to present testimony to his defense. | | Narrative for 0340309 - VIERA, ARTHUR |
COMPLAINT: RELIEVED On August 30, 2006, NFA issued a Complaint charging MCI, Flickinger and employees Viera, Kerpe, and Montgomery with making deceptive and misleading sales solicitations. The Complaint however did not initially derive from Client disputes but rather the NFA itself. The Complaint also charged MCI with making high-pressure sales solicitations. The Complaint charged MCM with failure to maintain required books and records; failure to file required telegraphic notice; and failure to initiate an adequate AML program. ANSWER: On September 28, 2006, Viera filed an Answer to the Complaint denying the material allegations contained therein. APPEAL: On August 8, 2007, Viera appealed the Decision to NFA's Appeals Committee. APPEALS DECISION: On December 31, 2007, NFA's Appeals Committee affirmed the Hearing Panel's Decision in full. ORDER OF SUMMARY AFFIRMANCE: On September 9, 2008, the CFTC affirmed the decision of NFA's Appeals Committee. | |
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| | | | NFA ID | Respondent | Document Type | 0284210 | FLICKINGER II, ROBERT LEE | ANSWER | 0284210 | FLICKINGER II, ROBERT LEE | COMPLAINT | 0284210 | FLICKINGER II, ROBERT LEE | DECISION | 0325466 | KERPE, BENJAMIN | ANSWER | 0325466 | KERPE, BENJAMIN | APPEALS COMMITTEE DECISION | 0325466 | KERPE, BENJAMIN | COMPLAINT | 0325466 | KERPE, BENJAMIN | DECISION | 0325466 | KERPE, BENJAMIN | NOTICE OF APPEAL | 0325466 | KERPE, BENJAMIN | ORDER | 0301960 | MERCER CAPITAL INC | ANSWER | 0301960 | MERCER CAPITAL INC | COMPLAINT | 0301960 | MERCER CAPITAL INC | DECISION | 0346322 | MERCER CAPITAL MANAGEMENT | ANSWER | 0346322 | MERCER CAPITAL MANAGEMENT | COMPLAINT | 0346322 | MERCER CAPITAL MANAGEMENT | DECISION | 0336444 | MONTGOMERY, CHARLES MICHAEL | ANSWER | 0336444 | MONTGOMERY, CHARLES MICHAEL | COMPLAINT | 0336444 | MONTGOMERY, CHARLES MICHAEL | DECISION | 0340309 | VIERA, ARTHUR | ANSWER | 0340309 | VIERA, ARTHUR | APPEALS COMMITTEE DECISION | 0340309 | VIERA, ARTHUR | COMPLAINT | 0340309 | VIERA, ARTHUR | DECISION | 0340309 | VIERA, ARTHUR | NOTICE OF APPEAL | 0340309 | VIERA, ARTHUR | ORDER |
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