The National Futures Association (NFA) has ordered Futu Futures Inc., an NFA Member futures commission merchant based in Jersey City, New Jersey, to pay a USD 100,000 fine following a Business Conduct Committee (BCC) decision. The decision was based on a BCC complaint and a settlement offer submitted by Futu in which the firm neither admitted nor denied the allegations. The BCC found that Futu failed to timely file various required financial reports and notifications, in violation of NFA Financial Requirements Sections 1(d) and 1(e), and failed to supervise, in violation of NFA Compliance Rule 2-9(a). The BCC also ordered the firm to cease and desist from violating those provisions.
National Futures Association 2025-02-05
National Futures Association fines Futu Futures Inc. USD 100,000 for late financial filings and supervisory failures
The National Futures Association (NFA) has fined Futu Futures Inc. USD 100,000 for failing to timely file required financial reports and notifications, and for inadequate supervision. The Business Conduct Committee (BCC) found violations of NFA Financial Requirements Sections 1(d) and 1(e) and Compliance Rule 2-9(a). Futu Futures Inc. must cease and desist from further violations.