NFA orders WB Capital to withdraw from membership


The US National Futures Association (NFA) has today announced that it has ordered Wealthbuilder Capital Advisors (WB Capital), formerly known as Global Arena Trading Advisors LLC (GA Trading), an NFA Member commodity trading advisor, commodity pool operator and designated forex firm, and its sole principal and associated person (AP), Courtney D. Smith, to permanently withdraw from NFA membership and CFTC registration.

The decision, issued by an NFA Hearing Panel, is based on a complaint which was filed on May 2, 2014, and settlement offers submitted by WB Capital and Smith. The complaint alleged that Las Vegas-based WB Capital and Smith used misleading futures and forex promotional material, and failed to cooperate with NFA. The Complaint also charged Smith with failing to provide certain pieces of promotional material despite his obligation to do so in accordance with a previous disciplinary matter.

In December 2012, NFA’s Business Conduct Committee issued its first complaint against Smith, who was then a registered AP of GA Trading. This Complaint also alleged that Smith used misleading promotional material and failed to cooperate with NFA. NFA’s Hearing Panel issued a decision regarding the 2012 Complaint, which ordered Smith to submit all promotional material to NFA forthwith.

 

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NFA orders WB Capital to withdraw from membership

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