Friday, 25 July 2014
Last updated 1 hour ago
Nov 30 2006 | 10:57am ET
Last week, the National Futures Association granted Tom Mahl, who was formerly convicted of petit larceny, “conditional registration” as a floor trader.
Mahl’s initial registration attempt was denied by the NFA on May 9, 2006 on the grounds that he pled guilty to and was convicted of petit larceny. The NFA also alleged that Mahl failed to disclose his 2000 guilty plea and conviction for the misdemeanor offense on his previous floor trader application dated November 2004.
In June, Mahl filed a response to the NFA whereby he admitted to his past legal troubles and wanted to show that despite the allegations, his full or conditioned registration would pose no risk to the public.
On November 21, a subcommittee of the NFA's membership committee issued a final order accepting Mahl's settlement offer and granting him conditional registration as a floor trader. As part of Mahl’s conditional registration, he is not allowed to act as a principal or officer of any firm registered or required to be registered with the NFA, nor is he allowed to serve on any disciplinary or oversight committees.
Mahl’s sponsors are required to conduct monthly reviews of his trades and keep a log of his trading activities for a period of two years.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…